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ARGENTINA | 18-01-2018 11:48

Opposition rallying to reverse Macri's decree package

Opposition lawmakers are engaged in cross-party talks to secure 129 votes in the Lower House and 36 in the Senate.

Argentina’s opposition parties are engaged in cross-party talks to derail President Mauricio Macri’s wide-ranging decree package which they say has undermined Congress.

The decree package, announced January 11, aims to speed up Macri’s reform agenda by implementing 140 modifications to exisiting legislation while eliminating 20 laws.

The opposition is hopeful it can secure 129 votes in the Lower House and 36 in the Senate, lawmaker Agustín Rossi (Victory Front) told Télam news agency.

The opposition could call a special session of Congress for the first fortnight of February.

THE PACKAGE

The government wants to attract investment by improving importers' access to local markets. Among the changes, the government will automate 314 import licences and create a so-called Secretariat for Production Simplification. 

It will also permit the ANSES welfare entity to invest its Guarantees and Sustainability fund in financial services including fiduciaries, a move the opposition has taken particular issue with.

More broadly, the national government hopes the measures, designed to "simplify" and slash the country's bureaucracy, will reduce productive costs by one percent of the country’s Gross Domestic Product (GDP) over two years, Production Minister Francisco Cabrera said.

Read more here: Macri signs import-friendly decree package to simplify, slash bureaucracy

-TIMES

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