Argentina: Lower House Approves Milei's Reform Bill

    Argentina: Lower House Approves Milei's Reform Bill
    Photo: Tomas Cuesta/Stringer/Getty Images News via Getty Images

    The Facts

    • Argentina's Chamber of Deputies approved Pres. Javier Milei's sweeping "omnibus" reform package in a 144-109 vote on Friday, capping days of intense debates in the country's lower house.

    • Though it's likely to advance to the Senate in some form, Chamber of Deputies' lawmakers must vote on the legislation article by article — a process that is expected to start on Tuesday.


    The Spin

    Pro-establishment narrative

    If this legislation — crafted to destroy the state in total disregard for its best interest — ever ends up being approved in Congress, Argentina can only expect a disastrous outcome. Now, more than ever, popular mobilization is needed to exert pressure on the government and its allies in the legislature.

    Establishment-critical narrative

    Though he has had to scale back his ambitious reforms, this was Milei's first victory in an uphill battle to deregulate one of the world's most regulated economies and reverse decades of government failure. If Argentina has long been experiencing multiple crises, unreasonable restrictions on exercising constitutional rights are to blame.

    Nerd narrative

    There's a 20% chance that Argentina will fully dollarize its economy before 2028, according to the Metaculus prediction community.


    Establishment split

    CRITICAL

    PRO

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