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MNI US OPEN - PBOC Makes First Major Policy Tweak Since 2011
Milei To Break Omnibus Reform Into Different Bills
Argentinian President Javier Milei is set to break up his massive 'Omnibus' package of economic reforms into smaller bills in an effort to get them onto the statute book. Speaking to Radio Rivadavia earlier, Milei stated that, "Congress hasn't seen it, so I'll resend the omnibus project in parts." In January, Milei had issued a decree extending the extraordinary session of Congress until 15 Feb in order to allow further discussion of the Omnibus Bill. However, with the ending of this session without the bill having passed in both chambers, the legislation goes back to square one.
- Politica Argentina reportson the prospect of the Milei administration using presidential decrees (DNUs), "Without extraordinary sessions and without parliamentary activity, Milei will deepen his intention to bypass Congress by launching economic deregulation measures by decree. The government acknowledges this as "a possibility" ...The intention is to dissect the omnibus law and look at details of the decree, especially the labor chapter halted by the courts, and design a plan for some of the reforms to be implemented by decree, while others return to Congress through more focused legislative projects."
- Earlier this week, the gov't announced its intention to withdraw the bill, which covers a wide range of areas including privatisation of state assets, de-regulation, gov't spending, environmental protection, and civil issues.
- Milei risks accusations of exceeding his powers should he seek to push through measures by decree.
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Why MNI
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