Posted 12/21/2023, 8:14:39 PM
Milei Takes Office in Argentina With Sweeping Reform Agenda
- New libertarian President Javier Milei takes power in Argentina and announces sweeping deregulation reforms overriding Congress
- Reforms aim to privatize state-owned companies, introduce competition in protected industries, reduce role of unions
- Milei declared economic emergency to issue reforms by decree, avoiding Congressional approval he previously said he would seek
- Milei spoke directly to public rather than Congress at inauguration, signaling intent to rule with support of masses
- Success of reforms over long term likely depends on Milei working with Congress despite having little support there initially