Argentina’s Lower House approved President Milei’s Emergency Decree, allowing for borrowing from the IMF to bolster Central Bank reserves. This decision received overwhelming support, highlighting the government’s policy focus on combating inflation. Meanwhile, public demonstrations for retirees’ rights occurred peacefully, following previous unrest. Milei has suspended a trip to Israel due to these developments.
On Wednesday, Argentina’s Lower House approved President Javier Milei’s Emergency Decree (DNU), allowing for increased borrowing from the International Monetary Fund (IMF). The vote concluded with 129 in favor, 108 opposed, and 6 abstentions, primarily supported by Milei’s ruling party, La Libertad Avanza (LLA), and several other allied parties. Opposition arose mainly from the Peronist Unión por la Patria (UxP), leftist factions, and smaller parties.
The Office of the President celebrated the vote, stating, “President Milei thanks the 129 deputies, belonging to the great majority of the political blocs, who understood the mandate of the ballot boxes.” The statement emphasized the importance of combating inflation as a state policy and articulated that this agreement would aid in reducing public debt by facilitating credit operations for the National Treasury to settle existing debts with the Central Bank.
Additionally, the statement affirmed that the reorganization of the Central Bank is a crucial step toward achieving monetary and macroeconomic stability. The government claimed, “Stability is the basis for a future where the purchasing power of wages is not eroded by inflation,” ensuring companies can plan for the long term without economic disruptions.
Casa Rosada further noted the government’s unwavering commitment to the disinflation process and lifting exchange restrictions as part of their electoral promise. Notably, the DNU requires approval from either House of Congress, irrespective of the other’s stance.
In a related public event, a retirees’ march attracted significant citizen support for improved wages and medical assistance, despite previous unrest associated with protests. While tensions were managed with heightened security, the event proceeded without major issues. This follows the recent hospitalization of photojournalist Pablo Grillo after clashes during protests, where his condition showed slight improvement, enhancing hopes for his recovery. Due to these developments, Milei has had to cancel a planned trip to Israel this weekend.
The passing of President Milei’s Emergency Decree by Argentina’s Lower House signifies a critical step forward in the government’s efforts to stabilize the economy through IMF support. With bipartisan voting reflecting varying political alliances, this decree is expected to ease public debt burdens. Additionally, ongoing public demonstrations highlight the citizen demand for social support amid these economic reforms. The government’s proactive stance on monetary stability aims to safeguard long-term economic interests for Argentine citizens.
Original Source: en.mercopress.com
