Voting Resumes Tuesday as Argentina’s Milei Enters Second Round in Campaign for His Omnibus Reform Bill

Voting will resume at Buenos Aires at 2 p.m Tuesday, with the 257 members of Argentina’s lower congressional chamber, the Chamber of Deputies, gathering to debate key components of President Milei’s omnibus reform bill in a second-round review.

The bill passed Friday with 363 of its original 664 articles remaining, after three days of back and forth. One sign the second round will be shorter than the first comes as Mr. Milei’s ruling party agreed with the opposition bloc to vote by chapters, rather than articles, according to the largest newspaper in Argentina, Clarín.

One official in the Milei camp told Clarín the vote “could easily extend to Wednesday and also Thursday.” The plunder is still up for grabs, with at least seven key pieces of the bill identified as particularly open to debate.

Clarín’s analysis includes: privatization of public companies, delegation of legislative faculties to the executive, modification of glacier laws to enable economic activity in periglacial zones, cultural changes, extending jurisdiction to New York for dispute cases, modifications to the penal code, and a mechanism to guarantee provincial pension funds.

To complicate matters further, the dispute is not only between Mr. Milei’s leading coalition and the opposition bloc, but also with provincial governors. The province of La Rioja is printing its own quasi-currency to pay public employees, the Financial Times reported — a short-term alternative to Mr. Milei’s long-term, growth-oriented austerity policies.

The provincial legislature is set to issue 22.5 billion pesos ($28 million) in the form of “bocades,” or provincial bonds. The move by La Rioja could incentivize the government to hasten the second-round review before additional provinces can join the push for quasi-currency to undermine Mr. Milei’s economic plan.


Read the rest at The New York Sun.

Gabriel Diamond is a research assistant at Yorktown Institute.

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