Pinedo calls bill to amend Central Bank Charter 'sinister'

The head of the PRO caucus in the Lower House, Federico Pinedo, strongly criticized President Fernández de Kirchner’s plan to amend the Central Bank’s Charter and assured it is “one of democracy’s most sinister laws.” 

“The Government is just looking for a blank check in order to finance itself with the Central Bank’s reserves. This a dramatic matter,” he considered.

“It is the work of all Argentines and their savings that is at stake here. What we’re discussing here is inflation, eating away people’s salaries and the disappearance of the bank’s reserves, which guarantee that their savings,” Pinedo stated. 

He also assured that a constitutional mandate “forces Congress to preserve currency value,” and in case the President’s bill is passed, “it would be a brutal violation of its responsibility.”

The Victory Front caucus in the Lower House will seek to grant preliminary approval to a bill looking to modify the Central Bank’s Charter, which would grant it the power to “promote a real economy and increase regulation on financial entities.”