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ARGENTINA | 27-11-2023 17:24

President-elect Javier Milei to call extraordinary sessions for state reform package

President-elect Javier Milei plans to call extraordinary sessions of Congress upon taking office as he seeks to deliver urgent reform for Argentina's economy.

President-elect Javier Milei plans to call extraordinary sessions of Congress upon taking office as he seeks to deliver urgent reform for Argentina's economy.

Speaking prior to his trip to the United States, Milei also praised Luis 'Toto' Caputo, the former Mauricio Macri government official who is likely to be tasked with overseeing the nation's troubled economy.

Milei said Sunday that Caputo – who is accompanying the libertarian leader on his trip to New York and Washington DC this week – has the “expert financial manoeuvres” to “stop the snowballing Leliqs [debt notes] and prevent hyperinflation.”

Declaring that "nobody imposes anything" on him, the La Libertad Avanza president-elect said he will call on lawmakers to begin legislating during the traditional holiday period. 

“On December 11, a huge package with state reforms will come in. We won’t wait until ordinary sessions in March. We will call extraordinary sessions and deal with all of these topics because it’s urgent. We can’t wait until March, because the demand for money starts to fall. Problems have to be faced as soon as possible.” Milei stated in a television interview.

“Problems with the Central Bank are best solved sooner rather than later, and not just that, but we should also start solving the fiscal issues, so we don’t just stop printing and keep generating fiscal deficit, but also the way inflation is, to clean up the remaining cash due to the rise in nominal GDP," he argued.

In the LN+ interview, recorded prior to his trip overseas, Milei said his reform package would include a "shock plan."

“If it’s untidy, it’ll be chaos. What we propose is a tidy adjustment. The impact will be tough, but less tough.” he pointed out while clarifying that “there will be social containment.”

“The only open wallet is that of the Human Capital minister," he added, citing a new portfolio that will take on the roles of several existing ministries, such as Social Development.

Milei said that Argentina's short-term debt was the source of hyperinflation fears and that Caputo was the "ideal man to dismantle this problem."

Refusing to confirm if the ex-Macri administration official would be his economy minister, Milei said that Caputo's role "will be defined as the organisation chart is accommodated.”

Milei also referred to the names rumoured for the rest of his cabinet, including several figures from the opposition PRO party founded by Macri and he stated that “there is a good possibility of joining forces.”

“We realised we have a lot in common and we agree on 90 percent of the agenda," he revealed.

“Nobody’s imposing anything on me,” the president-elect stressed when asked whether Macri may be responsible for some of the appointments in the new cabinet.

 

– TIMES/NA

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