Milei triggers police, but retreats in protest of retirees

Since Argentina acquired a billionaire debt in the government of Mauricio Macri (2015-2019), the largest in IMF history, the country has created a law that conditions new loans to the approval of the National Congress.

President Javier Milei, who is supported by Macri, thanked the deputies who approved the decree. “They understood the mandate of the ballot box and gave a message of maturity and greatness: the fight against inflation is a state policy in our country,” the president said in a statement.

According to Casa Rosada, “the agreement will ensure a public credit operation for the National Treasury to cancel debt with the Argentine Central Bank, implying a reduction in the total public debt.”

To speed up the process, Milei signed a presidential decree. Thus, the approval by a simple majority in the House of Representatives guaranteed the validity of the text. If he had sent a bill, the president would depend on approval not only in the House but also in the Senate.

The vote was marked by shouts, megaphone use, and a lot of chatter among the deputies. The House approved the DNU for 129 votes to 108, as well as six abstentions.

The new agreement with the IMF was not detailed by the decree. Opposition legislators consider the text a kind of “blank check” that the deputies provided to the executive.