Together for Change asked to summon the President of the BCRA to the Senate

The president of the Interbloc d’Ensemble for change in the National Senate, alfredo cornejoin collaboration with PRO block holders, Humberto Schiavoni, and the UCR, Luis Naidenofftoday presented a draft resolution to summon the head of the Central Bank of the Argentine Republic (BCRA), Miguel Angel Pescéso that he reports “in detail, verbally and documented the latest regulations that involve ensuring the liquidity of the financial sector to the detriment of the liquidity reserves of the institution he presides over”.

Together for Change legislators refer to the exchange debt in pesos which took place a week ago, where the Ministry of Economy made a to roll short-term expiring peso securities in exchange for double bonus with a guaranteed minimum price.

Through a statement, the opposition bench explained that, among other things, they want Pesce to tell them “what powers the BCRA has to offer financial institutions liquidity options on securities allocated by the national state as of March 7, expiring between January 1, 2024 and December 31, 2025, indicate in particular the powers of the Operations Analysis Department and the Main Market Operations Department to issue Circular “A” 7716 and why it is not endorsed by entity management Board of Directors”.

On the other hand, the senators of Ensemble pour lechange point out that Pesce must explain why he considers that the offer of liquidity options is not contrary to the ban on guaranteeing the debts of the national State provided for in THE Organic charter of the BCRA; and the operation of liquidity options is explained and to what extent it involves the creation of a privilege for financial institutions compared to other holders of Notes.

In the foundation of the project, Cornejo, Schiavoni and Naidenoff point out that it is the Congress which must “organize the payment of the internal and external debt of the Nation” and that “he is the ultimate responsible and the constitutional authority because the people of the Argentine Nation and the provinces that compose it are represented there”.

The operation, which they call “megacanje”, It is based on Central Bank communications “A” 7716, “B” 12491 and “B” 12494, which for the senators “are measures that require discussion in Congress and exposure to public debate.” One of the reasons is that for Cornejo and the other signatories, they “have been dictated by second-line authorities of the entity and within a framework of transparency incompatible with the most elementary republican principles”, affirm the senators.

Since In front of all They smiled when asked about this project. “They went to the IMF, They took on a 100-year bond and none of all the debts they incurred passed through Congress and now they talk about republican principles. That seems a little too much to me,” he said. GlobeLiveMedia a senator from the ruling party

The Frente de Todos will seek to block this convocation, but now the distribution of powers in the Senate has been changed with the creation of the Federal Unity bloc, which, with 5 senators, is the one that can generate a quorum at a time for the ruling party and the opposition.

“The BCRA’s generous offer projects itself in time well beyond the democratic mandate of government authorities, generating commitments that will have to be respected by the next elected administration,” the lawmakers stressed. “It is the continuity of the State, it is nonsense to raise this”, reacted the senators of the Frente de Todos.

Today the demand came as the blocs negotiate the possibility of holding a session on March 29 – the date requested by Federal Unity – or May 30, the date proposed by the Frente de Todos and discussed with Juntos por el Cambio .

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