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LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

February 14, 2024

Can Argentina’s Milei Resurrect His Economic Reforms?

Argentine President Javier Milei wants a raft of economic reforms, but the measures face an uncertain future in Congress. // File Photo: Argentine Government.

Q

  • Argentine President Javier Milei’s package of economic reforms is stalled in Congress after the lower house sent the proposed overhaul back to a legislative committee. Milei wants reforms that include provisions to allow for the privatization of state entities and to give the president greater powers, among changes to hundreds of regulations. Even after Milei’s administration watered down the measure in an effort to secure its passage, the bill was blocked amid disputes including how states receive federal money. What parts of the reform are most likely to fail, and which could become law? What are Milei’s options for moving forward with the reforms? What does the way in which Milei and his administration have reacted to setbacks with the reforms say about his government?

A

Kezia McKeague, managing director at McLarty Associates: “The Milei administration finds itself at a crossroads following the setback in Congress. Publicly, the president is blaming the political establishment, accusing provincial governors and their allied legislators of ‘betrayal,’ and insisting that no law is better than a bad law. Privately, his team’s message to investors is that the executive branch possesses other tools to advance with the deregulation effort (that is, presidential decrees) even as it evaluates alternative legislative strategies, such as breaking up the legislation into smaller bills. Sticking points had already included the adjustment of pensions, privatization of state-owned companies, electoral reform and tax increases to reach the government’s all-important goal of…”

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The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.
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Merike Blofield
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Devry Boughner Vorwerk
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Joyce Chang
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Nicolas Mariscal
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Thomas F. McLarty III
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Ernesto Revilla
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