A court’s decision to temporarily suspend labor reforms promoted by Argentina’s new government marks the first legal setback to the massive reform project. On the other hand, the IMF and government delegations will aim for an agreement on the maturities tomorrow.
The government of Argentina, chaired by the ultra-liberal economist Javier Milei, will try to reach a new agreement with the International Monetary Fund (IMF) at the meeting that will take place this Friday in Buenos Aires with a delegation from the multilateral organization that will arrive in the country today. The meeting will take place just after a court’s decision next Wednesday to temporarily suspend the labor reform promoted by Argentina’s new government, accepting the unions’ arguments.
This decision represents the first legal stumbling block reformist project at the mercy of President Milei, who, in order to overcome this setback, announced this appeals against the ruling of the Labor Chamber to suspend the labor chapter of the Decree of Necessity and Urgency (DNU).
In less than a month, the Argentine president agreed a decree to “rebuild the Argentine economy” and has sent a bill to Parliament “with the spirit of restoring economic and social order, based on the liberal doctrine” contained in the 1853 Constitution.
Term Agreement
On the other hand, at the meeting scheduled for this Friday with the IMF, the idea is true cancel the fallen agreement and agree on the expiration dateas official sources assured the EFE on the eve of the meeting, the first meeting held directly by representatives of the Milei Executive and the multilateral financial organization.
The goal of the Argentine government is to renegotiate the agreement between the two parties for the payment of a debt which in total amounts to approx $46 billion.
Buenos Aires trusts postpone the first due dates this year, which will take place on January 9 and amount to $ 1.3 billion, and on the 16th of this month, for another $ 650 million.
One of the measures that the international organization has already planned is that Argentina will match the payments. For the time being, the IMF has supported the new Argentine government’s measures aimed at this tax adjustmentHe cut back on government spending and the brake on monetary emissions.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
