Argentina’s Lower House approved President Milei’s Emergency Decree allowing IMF borrowing, with 129 votes in favor. The decision aims to strengthen Central Bank reserves and manage debt, receiving bipartisan support against opposition from Peronist and left-wing factions. Celebrations indicated a belief in stabilizing the economy amid ongoing public protests for better welfare and health support for retirees.
On Wednesday, Argentina’s Lower House approved President Javier Milei’s Emergency Decree (DNU), allowing further borrowing from the International Monetary Fund (IMF) to strengthen Central Bank reserves and manage the national debt. The voting resulted in 129 votes in favor, 108 against, and 6 abstentions, with support from the ruling La Libertad Avanza (LLA) and other parties including PRO, UCR, and Coalición Cívica, while opposition was mainly from the Peronist Unión por la Patria (UxP) and left-wing groups.
In a statement celebrating the approval, the Office of the President expressed gratitude to the 129 deputies for recognizing the electoral mandate. The statement emphasized that this decision represents a commitment to fighting inflation as a state policy and highlights the government’s intention to stabilize the economy.
The document also outlined that the agreement would facilitate public credit operations to settle debt with the Central Bank, leading to a reduction in overall public debt. It reiterated the efforts made by Argentines to achieve macroeconomic stability and underscored the importance of stability for improving wage purchasing power.
Furthermore, Casa Rosada asserted the government’s relentless pursuit of definitive disinflation and the lifting of exchange restrictions. The legislative approval is crucial as DNUs require validation from either House of Congress to be deemed valid.
Additionally, a march organized by retirees saw considerable public support, where citizens rallied for better wages and medical care. This event took place under strict security, contrasting markedly with the prior week’s unrest that resulted in numerous arrests and injuries, including that of freelance photojournalist Pablo Grillo who is currently recovering in Intensive Care.
In light of these developments, President Milei was compelled to cancel an upcoming trip to Israel.
The approval of President Javier Milei’s Emergency Decree represents a significant step towards financial stability in Argentina by enhancing IMF borrowing capabilities and managing public debt. The bipartisan support highlights a collective understanding of the economic challenges, specifically the fight against inflation. The government’s ongoing commitment to disinflation and economic management remains a focal point for future policies, despite recent public unrest surrounding related issues.
Original Source: en.mercopress.com
