The national government has decided to intervene in the State-Owned Company "Casa de Moneda" for a period of 180 days with the aim of reorganizing and optimizing its operations, according to a decree published in the Official Bulletin. This measure falls within the public emergency declared in December 2023 regarding economic, administrative, and social matters, and is part of a strategy to reorganize public companies that includes the transformation of the legal status of various state-participated companies.
Dr. Pedro Daniel Cavagnaro has been appointed as the intervenor and will begin his functions on November 1st. Among the extensive powers granted to him are the renegotiation of contracts to ensure the continuity of essential services such as passport printing, license plates, and stamps, the evaluation and modification of labor agreements, and the restructuring of the company's administration. Additionally, he will have the authority to conduct a comprehensive audit of the state of the facilities and assets of Casa de Moneda.
The main objective of this intervention is to ensure compliance with current regulations, update the purpose of Casa de Moneda to align its operations with the current business strategy, and strengthen its position in the market. The decree, signed by President Javier Milei and Economy Minister Luis Caputo, establishes that the intervenor must present a situation report and an action plan for the entity to the Ministry of Economy, which will also adjust the general budget to meet new requirements.
