The ruling party and PRO requested a special session in the Chamber of Deputies to discuss next Wednesday the Decree of Necessity and Urgency (DNU) that enables the Government to sign an agreement with the International Monetary Fund (IMF). The leaders of the LLA, Gabriel Bornoroni, of PRO Cristian Ritondo, of Creo Pamela Omodeo, and of Production and Labor, Nancy Picón Martínez, scheduled the session for 10 a.m.
The intention of the ruling party is to resume its agenda and prevent the formation of the investigative committee of the cryptogate from becoming the only relevant topic. The expedited discussion of the DNU will allow the Government to ratify this presidential measure by taking advantage of Law 26,122, approved during Cristina Fernández de Kirchner's administration, which establishes the ratification of a DNU with the approval of only one chamber.
The session will take place a day after the Bicameral Commission on Parliamentary Treatment begins the debate on the DNU that authorizes the Government to sign the agreement with the IMF. In this commission, chaired by LLA senator Juan Carlos Pagotto, the arguments of the Government's economic team will be heard, and the corresponding report will be signed.
In the context of these discussions, the President of the Chamber of Deputies, Martín Menem, is working to ensure not only the quorum but also the necessary votes to ratify the DNU with a simple majority. Notably, he held a meeting with the president of the MID bloc, Oscar Zago, to secure his support. Zago is a key ally, and his vote is essential to building the majority that supports the DNU.
The ruling party has the backing of its own votes, as well as votes from other political forces. Additionally, it seeks to gain support from legislators of various blocs to back the agreement with the IMF. The immediate goal is to issue a favorable opinion in the Parliamentary Procedure commission, needing at least eight members to achieve this. The agreement is expected to range between 10 billion and 20 billion dollars to pay debts with the Central Bank and strengthen the country's reserves.
The DNU highlights the importance of having an adequate level of reserves to reduce country risk and facilitate Argentina's reintegration into international markets. It is mentioned that the low quality of the Central Bank's assets affects its ability to promote economic and financial stability, employment, and development. It is emphasized that settling outstanding debts is essential to improving the economic situation and advancing towards the reduction of the currency controls, which currently limit economic efficiency and long-term investment.
