This Thursday will begin the debate in the Chamber of Deputies of the omnibus law, the flagship project of the government of Javier Milei, which seeks a deep reform of the state with less state intervention. The ruling party achieved a majority opinion with the support of several opposition forces, albeit with partial dissent.

The omnibus law, which includes deregulation, modification and repeal of laws in various areas, generated controversy and rejection by some sectors, such as Peronism and the left. Milei’s goal is to achieve fiscal balance this year, but to do so it will have to face resistance on issues such as export duties and pensions.

The Chamber of Deputies will vote in the coming days on the omnibus law, the main project of the Milei government that seeks to reduce state intervention. In the last debate, a deputy from La Libertad Avanza defended the position of Milei, who has distanced himself from Congress: “Politics is not the solution, but the citizens. We want the State to let us work and enter into business.”

La Libertad Avanza, Milei’s far-right party, has only 38 deputies out of 257, but was backed by Juntos por el Cambio (center-right) and part of dissident Peronism. Patricia Bullrich and Luis Petri, former candidates of that coalition, are now part of Milei’s cabinet.

K. Tovar

Source: El País

(Reference image source: X, @moment_waldo)

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On 15 January, Argentine unions expressed their rejection of the ‘omnibus law’ and confirmed the holding of a national strike on 24 January in opposition to the policies of the government of Javier Milei. The unions, concerned about the declared emergency and the delegation of legislative powers to the Executive, see the country’s institutionality in jeopardy.

Hector Daer, Secretary General of the General Confederation of Labor (CGT), during the second week of debates in congressional committees, described the Law of Bases and Starting Points for the Freedom of Argentines, known as the ‘omnibus law’, as being based on “fallacies”. He criticized the transfer of powers to the Executive for four years, calling it unprecedented in Argentina and the world.

The Congressional Committees on General Legislation, Budget and Constitutional Affairs, with the participation of some 60 representatives from different sectors, were the scene of these discussions.

Daer expressed concern about several measures of the law, including the privatization of public companies, the elimination of pension schemes, the cessation of financing for culture and reforms to the Penal Code, which, in his view, infringe upon individual and collective rights by restricting trade union action.

The union leader concluded by affirming that the health of the Republic cannot be decided in a few meetings and emphasized the importance of Congress in preserving institutionality. He reaffirmed the support of the unions on January 24 to urge congressmen to reject the controversial law.

K. Tovar

Source: Bancaynegocios

(Reference image source: X, @biencuyano)

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The Argentine executive, under the administration of Javier Milei, revised the proposal of the so-called ‘omnibus law’, contemplating the possibility of shortening the initial emergency period. At the opening of the debate on this legislative reform in Congress, representatives of the Government presented this new perspective.

The omnibus law, an ambitious project with 664 articles, proposes extensive modifications in various areas of the State. Originally, it would allow Milei to declare a public emergency until 2025, with the option of extending it for an additional two years.

However, during the first presentations at the Congress, Eduardo Rodríguez Chirillo, Secretary of Energy and co-author of the project with Federico Sturzenegger, suggested that the emergency period could be limited to one year, with an optional extension of an additional year.

“The reduction of the emergency period to one year, plus an extension, has been contemplated in the final version of the project,” Chirillo admitted, emphasizing the need for legislative powers to reduce the size of the public administration.

On the other hand, Rodolfo Barra, Attorney of the Treasury, stressed the urgency of the proposed reforms in the law to face the economic crisis, even suggesting that the Constitution would not be an obstacle in this context. During the day, the first of three scheduled debates began, with the participation of key figures such as the Minister of Justice, Mariano Cúneo Libarona, and Chirillo himself.

Rodrigo De Loredo, deputy and leader of the UCR bloc, expressed his willingness to collaborate in the passage of the law, although he stressed the need to prioritize social demands and a plan for economic and financial stability. The Radicals, part of the Together for Change coalition, have expressed concern about the project’s approach.

Pro MP Silvia Lospennato announced that her party will propose changes to the bill, rejecting the idea of a declaration of emergency with discretionary powers and extensions by the government. “We will not support emergency self-prolongation, a practice that we consider an institutional violation,” Lospennato said, referring to the actions of Alberto Fernández’s previous Peronist government during the Covid-19 pandemic.

K. Tovar

Source: La100

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The government of Javier Milei approved the privatization of Banco Nación de Argentina, a measure that is part of the new omnibus law. Daniel Tillard, the newly appointed president of the entity, confirmed this decision, underlining its importance for growth, efficiency and transparency of banking management.

This transformation responds to the need to reform the management of the bank, which in recent years has not fulfilled its social objective of converting deposits into loans for Argentine SMEs and families. In addition, deficiencies in credit practices and worrying default indicators are highlighted, with a decline in financing and liquidity levels.

Tillard noted that the country’s economic readjustment will be key to changing the banking landscape, emphasizing the need for Banco Nación to improve its lending to SMEs and families and optimize its operations. With Milei’s rise to power, there had been speculation about the possible privatization of this bank, as well as other state-owned companies such as YPF and Aerolíneas Argentinas. The first steps of the new government are aimed at reducing state spending.

However, the Banking Association, a union of bank workers in Argentina, has already warned that it will oppose the transformation of BancoNación and other public banks into public limited companies for sale or liquidation. The union emphasizes the importance of the social function of these institutions, a position that becomes more relevant after the official confirmation of this measure by the bank’s president.

K. Tovar

Source: Infobae

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