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Lower House Continues to Debate Milei’s Omnibus Bill

ARGENTINA
  • With no data due for release today, the focus will stay on the continuing debate in the Lower House of Congress on Milei’s omnibus bill. As noted previously, although an Argentine court ruled the labour reform component of this bill unconstitutional earlier this week, the rest of omnibus bill remains in effect. The government expects the first part of this bill to be approved this week.
  • Separately, the IMF executive board approved a $4.7bn disbursement to Argentina yesterday under the seventh review of the $44bn finance programme. The IMF remains very supportive of Milei’s reform efforts and this latest disbursement provides the government with more time, while Milei decides whether to continue with the current IMF programme or negotiate a new one.
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