Monday, December 11, 2023

A PRO deputy presented a project to remove the Board of Directors of Bangko Sentral

The deputy PRO, Oscar August Carreño presented a bill proposing that Congress would direct the removal of directors of Banco Central and not the Executive Branch. This was done last week with the title “modification of the procedure for censure and dismissal of members of the Board of Directors of the Central Bank.”

The initiative has the signatures of the following representatives: Luciano Laspina, Lydia Ascarate, Adriana Ruarte, Mario Barletta, Manuel Aguirre, Monica Frade, Gerardo Cipolini and Carlos Zapata.

According to the project, it is proposed to change the Organic Charter and that it be worded as follows: “The members of the board of directors may be removed from their positions, by the Honorable Congress of the Nation, for failure to comply with the provisions contained in this Organic Charter, for admitting any of the deficiencies provided in the previous article, in the event of misconduct or failure to perform the duties of a public official.

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And requests that the dismissal be granted as follows:

1) Initiative phase: The request for interpellation must be approved for the purposes of processing a motion of censure. This stage can be promoted by either of the two Chambers and requires an absolute majority of the members.

2) Execution stage: The motion of censure, which also requires the vote of the absolute majority of the whole of each Chambers and whose effect is the removal of the official.”

Removal of the Board of Directors of the Central Bank: what are the foundations

For the national representative, “it is provided by the National Constitution Congress exclusive jurisdiction of the money regime (article 75 paragraph 6, 11 and 19). There is no doubt about the mandate given by the Magna Carta when it states that it is up to Congress to “establish and regulate a federal bank with power to issue money; to have stamp money, to fix the its value and the obligation to protect its value.”

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“The constituent legislature made a very clear decision: the amount of our National currency This is the exclusive power of Congress and not of executive power” he declared.

At the same time, he pointed out that “there is a hidden delegation of things that are not allowed by the constitution, more than the fact that there are no proper control tools for Congress to continue to interfere in the issue that the Constitution it was precisely established as a competition”.

Finally he concluded: “I consider that this Congress will not remain undaunted if the Banco Central does not fulfill the obligations entrusted to it (perhaps exceeding its powers), if the interference of Executive power They are excessive when the value of money becomes ridiculous, but above all when it creates, every day, more poverty for the people.

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Congress must act. There is the Honorable Chamber, which is representative of national people, must act on this matter.”

Nation World News Desk
Nation World News Desk
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