After establishing last Monday the suspension of ticket printing and to decide that only its production line for license plates and other documents such as green cards and passports will remain active, the Government confirmed this Thursday the intervention for 180 days, starting this Friday, of the Minta state company created in 1875 that currently has about 1,300 employees.
He did it through the Decree 964/2024published in the Official Gazette this Thursday with the signatures of Javier Milei and the Minister of Economy, Luis Caputo.
The document, in parallel, designated Pedro Daniel Cavagnaro as interventionistalso starting on the first day of next month. As specified, it will have different tasks, such as preparing and submitting to the Ministry of Economy a report on the status of the Mint, and preparing a reformulation, readjustment and action plan for society, which must be put up for consideration. of the economic portfolio.
It must, among other things, “reveal all of the judicial and administrative processes in which that entity participates or is involved as a party, third party or potential interested third party,” “preparing a report on its status and the recommendations to follow.” , as well as “evaluate and modify by agreement the Collective Labor Agreements for the Company’s Personnel and/or negotiate new ones.”
In the recitals, it is explained that in order to “optimize activities” currently developed by the state company, “it is essential to begin the process that will culminate with the transformation and updating of its corporate purpose”.
“The transformation, in addition to complying with the legal mandate, seeks to reflect the current business strategy, corporate identity and positioning in the market, thus contributing to greater coherence and recognition by its clients, its partners and the public in general”, adds the regulations.
The decision to intervene at the Mint was taken within the framework of the “deep reorganization of public companies” which carries out the management of Milei in the face of the “public emergency in economic, financial, fiscal, administrative, pension, tariff, health and social matters” established until December 31, 2025 through DNU 70/23.
The state company today has serious infrastructure problems in its printing part, due to outdated machinery, in addition to a debt close to 400 million dollars.
Its ability to print banknotes is seriously impaired. On Monday it had been decided to stop carrying out that task, amid the delays it had been experiencing for the provision of $1,000 and $2,000 bills, while the Central Bank is ordering the $10,000 papers to be printed and those that will be issued to circulation in a few weeks, for $20,000, in China.
Through an internal statement, the organization’s management informed its staff this Monday of the end of the production of banknotes and the decision that staff who do not have activities to do take vacations.
Less than a month ago, on October 3, the Government had announced the restructuring of the Mint, the same day it made public the dissolution of the former Ciccone Calcografía, which was the center of a high-profile case of corruption during Kirchnerism by the one in which former vice president Amado Boudou was convicted.