06/13/2024 – 8:45
Argentina’s Senate on Wednesday night generally approved a package of reforms considered essential by ultra-liberal President Javier Milei, a bill that will give markets a clear signal about the president’s ability to implement his orthodox economic plan.
After riots between the police and protesters against the bill, the debate in the Senate resulted in a tie, which led the president of the Senate, Vice President Victoria Villarruel, to break the tie with a vote in favor.
Among other points, the voluminous bill promotes broad benefits for multimillion-dollar investments, privatization of public companies and special powers for the president, although many initiatives have been modified to obtain the consensus of the fragmented opposition.
“The president has stated that the State is a criminal organization, that he has a deep contempt for the State because it is the enemy (…) Are we really going to give delegated powers to this government?”, said opposition senator Martín Lousteau during the debate in the Upper Chamber.
After the vote, the senators began to vote on each of the chapters that make up the bill.
Many senators voted in favor of the law in general terms, but will promote changes in some points of the project with which Milei intends to obtain investments to boost an economy in decline and with inflation above 200% per year. Peronism and other opposition parties will vote overwhelmingly against it.
Outside Congress, a protest by unions, left-wing parties and other demonstrators led to a clash with police, resulting in several injuries, a burned car and 18 arrests.
“Today we saw two Argentinas, a violent one that sets fire to a car, that throws stones (…) and another Argentina, that of workers who are waiting with deep pain and sacrifice for the vote that, in November last year, chose a change to be respected ,” Villarruel said when explaining his vote in favor of the bill.
After taking office in December, Milei implemented a monumental adjustment in public spending that brought balance to fiscal accounts, but also caused poverty that exceeded 50% of the population.
Among the changes that the government granted to the opposition to avoid delays in approving the bill are modifications to the investment promotion regime and the elimination of Aerolíneas Argentinas, Correo Argentino and the RTA public media system from the list of companies to be privatized .
The bill was already approved by the Chamber of Deputies at the end of April, but will return to that House to deal with the changes made by the senators.
“The effort that we Argentines have made during these months is enormous, and we hope that today we can take a firm step towards establishing the foundations for progress,” said Senator Bartolomé Abdala, from the pro-government La Libertad Avanza party. .
Milei had tried to approve the law at the beginning of the year, which then contained a broader package of liberal initiatives that was rejected by Congress, which has now decided to cut the project.
After the incidents, the government congratulated the security forces on the social network X for their action against what it considered an attempted “coup d’état”.
“The president’s office congratulates the Security Forces for their excellent actions in repressing the terrorist groups that, with sticks, stones and even grenades, tried to perpetrate a coup d’état, attacking the normal functioning of the Congress of the Argentine Nation”, published the government .
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