President Javier Milei promised to sign a DNU last week with a double objective: to calm the anxiety of the financial market regarding negotiations with the IMF and to provide a legal response to a controversy that would be exposed sooner or later.
In 2021, Argentina passed a law that establishes that debt agreements with the IMF must have the approval of Congress.
At that time, Milei, who was a deputy, voted against the agreement with the Fund arguing that public spending was not being reduced as it should have been.
Despite having a majority in both chambers, the Government faced internal opposition aligned with Máximo Kirchner.
The DNU promised by Milei has as a precedent a law approved in 2021 with more votes from Juntos por el Cambio than from Frente de Todos, which could generate new political tensions.
It is highlighted that the consensus with the Fund in the past was prior to the approval of the law, unlike what would happen with the DNU proposed by Milei.
The lack of progress in the signing of the DNU has generated uncertainty in the market, as its approval could depend on the support of some chamber.
So far, the promised DNU has not been issued and a summary of the memorandum of understanding was included as an annex to the news.
