In the Headlines
February 14, 2024

Can Argentina's Milei Resurrect His Economic Reforms?

Latin America Advisor, The Dialogue

Corporate attorneys Peter Baumgaertner and Francisco Bianchetti were featured in a Q&A with The Dialogue's Latin America Advisor on Argentine President Javier Milei's attempts to pass economic reforms. His reform package, which includes measures allowing for the privatization of state entities and increased deregulation, stands stalled in the country's Congress. Mr. Baumgaertner and Mr. Bianchetti predicted that Milei will focus on fiscal reforms amid this setback, saying he deems fiscal balance more urgent than the content of the blocked bill. They added that he can take steps like reducing public spending on his own without legislative approval. The attorneys also explained that if Milei can improve the economy by lowering inflation and opening foreign exchange markets, he could ride a wave of public support toward not only passing his reforms but also elevating their intensity.

"Milei's approach is unorthodox, but he continues to show determination to transform the country's economy and business culture," they said. "He will not compromise on issues that are at the heart of his program. Only time will tell if Milei's bold strategy will bring lasting transformation."

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