Argentina’s Lower House has approved President Javier Milei’s Emergency Decree to allow borrowing from the IMF, supporting Central Bank reserves and debt management. The decree received backing from multiple political blocs, while significant opposition stemmed from Peronist and leftist factions. This decision aims to combat inflation and stabilize the economy, alongside ongoing public support for retirees. Amid these developments, Milei has canceled a trip to Israel due to domestic issues.
On Wednesday, Argentina’s Lower House approved President Javier Milei’s Emergency Decree (DNU), facilitating further borrowing from the International Monetary Fund (IMF) to bolster Central Bank reserves and manage public debt. The vote resulted in 129 in favor, 108 against, and 6 abstentions, with notable support from the ruling La Libertad Avanza (LLA) and various allied parties, while opposition primarily arose from the Peronist Unión por la Patria (UxP) and leftist groups.
Following the vote, the Office of the President expressed gratitude to the deputies who endorsed the decree, emphasizing that their decision reflected a strong message to creditors. The statement affirmed that addressing inflation had become a state policy, highlighting its significance in stabilizing the economy.
The document further articulated that this agreement would facilitate public credit operations aimed at resolving existing debts with the Central Bank and would contribute to a reduction in total public debt. Additionally, it reinforced the notion that stability is essential for protecting purchasing power and enabling long-term business planning.
Furthermore, the government pledged to relentlessly pursue definitive disinflation and the removal of exchange restrictions, indicating that these commitments are central to their electoral mandate. In a related event, a large gathering of citizens supporting retirees’ calls for improved wages and medical assistance took place without major incidents, marking a contrast to previous protests that experienced violence and numerous arrests.
Amidst these developments, it was noted that freelance photojournalist Pablo Grillo remained in delicate condition after a recent incident, with his father reporting positive signs of recovery. In light of these circumstances, President Milei had to cancel an upcoming trip to Israel this weekend, reflecting the demands of ongoing domestic issues.
The approval of President Milei’s Emergency Decree by Argentina’s Lower House marks a significant step in addressing the country’s economic challenges, particularly in terms of managing debt and stabilizing Central Bank reserves. The government’s commitment to tackling inflation as a state policy underscores its determination to foster economic stability. Despite the recent support seen at public demonstrations, the situation remains tense, as indicated by ongoing safety concerns and the health condition of journalists from prior protests, highlighting the precarious balance within the political landscape.
Original Source: en.mercopress.com
