LatinNews Daily - 08 July 2026

*Argentina’s President Javier Milei has outlined plans for a reform to the charter of the central bank (BCRA) that, among other things, would establish a mechanism for a “shutdown” of the executive branch once budget funding runs out. Speaking to streaming service Neura, Milei said this would mean that “when the budget runs out, no more spending is allowed, and the government shuts down”. The proposal represents another way in which Milei is seeking to mimic the US, led by his ally President Donald Trump, where a shutdown happens if congress fails to approve funding bills before the next fiscal period begins. The longest-ever full US government shutdown took place under Trump from October-November 2025. Other measures outlined by Milei included the introduction of criminal penalties for “violating the central bank’s independence regarding the financing of the Treasury” and for currency issuance, which he described as a “scam”. On social media, Milei announced he had met with Economy Minister Luis Caputo, the minister for deregulation and state transformation, Federico Sturzenegger, and the BCRA president, Santiago Bausili, to discuss the BCRA reform, as well as a new capital markets bill and the start of the deregulation of the insurance market.

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