Thursday 20 Jun 2024 @ 13:10
Chatham House
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Milei has taken a first step towards reshaping Argentina’s economy. There is a long, bumpy way to go

EXPERT COMMENT

Passing his first reform bill is a major victory for the president, but continuing economic pain may yet erode his remarkable popular support.

Reforming Argentina’s infamously dysfunctional, crisis-prone economy was never going to be easy for President Javier Milei. But on 12 June, the country’s Senate approved a slimmed-down omnibus bill that when eventually signed into law will give Milei broad executive powers and open up Argentina’s closed economy. 

Predictably, the streets of Buenos Aires erupted in violent protest, with the powerful labour union Confederación General de Trabajo (CGT) marching to the capitol building and barricading roads.  

The Senate narrowly approved the bill 37 votes in favour to 36 against, with the vice president casting the deciding vote. It will now pass to the lower house for final revisions. 

Click here to continue reading the full version of this Expert Comment on the Chatham House website.

 

Channel website: https://www.chathamhouse.org/

Original article link: https://www.chathamhouse.org/2024/06/milei-has-taken-first-step-towards-reshaping-argentinas-economy-there-long-bumpy-way-go

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