Argentina, hit by a severe economic crisis, wants to declare a public and economic emergency by the end of 2025. It should apply, inter alia, in the areas of economy, finance, security, defence, health and social affairs.
The new Argentine government under President Javier Milei has submitted a corresponding bill to Congress. The state of emergency could be extended for another two years – that is, until the end of Milei’s mandate – according to a document filed on Wednesday (local time).
This would give Milei extensive powers to decide on issues that can currently only be settled by parliament. The reform package, which includes 664 articles, also includes restrictions on demonstrations, far-reaching electoral reforms, sweeping tax changes and executive powers to privatize public companies.
“Fight against negative factors”
The government thus expresses its determination to “immediately and with appropriate means begin the fight against the negative factors that threaten the freedom of Argentinians”, according to the President’s Office via Platform X. It is unclear whether Milei can meet his demands accomplish. His party La Libertad Avanza (Freedom Progress) does not have a majority in parliament.
Last week, Milei signed a decree providing for the repeal of several laws, sparking protests. On Wednesday, countless people again took to the streets in protest. According to local media, six people were arrested and one police officer was injured.
Argentina is in a serious economic crisis. The inflation rate is over 160 percent and about 40 percent of people in the once wealthy country live below the poverty line. South America’s second-largest economy suffers from a bloated state apparatus, low industrial productivity and a large shadow economy that deprives the state of much tax revenue. The national currency, the peso, continues to lose value against the US dollar and the mountain of debt continues to grow.
Source: Krone
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