Bypassing congress, Argentina's Milei decrees sweeping economic deregulation and privatization measures [View all]
Argentine President Javier Milei announced a barrage of legal and economic deregulation measures that will, if passed by congress, fundamentally alter the Argentine state’s role in society and the economy.
Among the announcements were the abolishment of laws regulating the rental market, supermarket supplies and state purchases. He also announced moves that pave the way to privatizing Argentina’s state-owned companies.
The measures will be implemented via decree - and are effective immediately, despite constitutional provisions barring decrees over fiscal or penal law.
The chief of staff then has 10 days to send it to Congress, where it will be debated in commissions before it is sent for debate by lawmakers.
Argentina's inflation crisis, which had reached 160% in November (the last full month of the center-left Alberto Fernández administration), has tipped into hyperinflation since Milei devalued the peso by a record 51% overnight shortly after taking office - with inflation now projected to reach 30% in December alone.
The announcement touched off a massive, left-wing demonstration in downtown Buenos Aires - with pot-banging cacerolazo protests later heard in middle-class, right-leaning neighborhoods in the capital and elsewhere.
Middle-class support had proven decisive for Milei's runoff election victory a month ago.
At: https://buenosairesherald.com/politics/milei-decrees-sweeping-economic-deregulation-and-privatization-measures
Buenos Aires residents respond to today's far-reaching price deregulation and privatization decree by far-right President Javier Milei with pot-banging cacerolazo protests - historically associated with right-wing, middle-class voters (a key Milei constituency).
The decree - which opposition lawmakers have slammed as unconstitutional - follows Milei's record, 54% overnight devaluation last week that has quickly tipped Argentina's inflation crisis into a hyperinflation crisis.
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