April 12th, 2024


1. New draft of Law of Bases sent and committees kick off in National Congress

After the failure of its treatment during the summer, the Executive Power sent a new draft of the Law of Bases and Points of Departure for the Freedom of the Argentineans to the dialogue blocks. The objective is that they analyze it in private during this week and in committee next week. The new bill will include a chapter on labor reform, which will be significantly more limited than the labor reform contained in the DNU. In principle, it will not touch the roughest aspects in the relationship with the unions, such as union contributions and social welfare funds, as well as the prohibition of protests and assemblies. The new version of the omnibus law contains the “blanqueo” and moratorium for companies that regularize the situation of their workers. Thus, the bill contemplates the extinguishment of criminal actions, cancellation of debts and the removal from the Register of Employers with Labor Sanctions. Likewise, the new omnibus law includes only four emergencies and a request for delegated powers to Congress out of the 11 originally requested: administrative, economic, financial and energy, and for a term of one year. On the other hand, of the 40 state-owned companies and state-owned corporations that the original bill sought to privatize, in the new version the number is reduced to 18, but it still affects important entities. It also includes changes in the areas of hydrocarbons, defense of competition, incentive regime for large investments and social security. On the other hand, six committees of the Chamber of Deputies started their activity this Wednesday: the Committee for the Defense of Consumers, Users and Competition; the Committee for Communications and Information Technology; the Committee for Human Rights and Guarantees; the Finance Committee; the Disability Committee; and the Committee for Social Action and Public Health. Of these, four will be led by UP, one by PRO and another by LLA. Meanwhile, the Senate managed to gather a quorum to start the activity in four committees: Labor and Social Welfare; Agriculture and Livestock; Infrastructure, Housing and Transportation; and National Defense. Three were left for the PRO and one for the UCR.

Ámbito Financiero: Los puntos principales del borrador final de la ley de Bases

2. Inflation and Basic Food Basket indexes released

March inflation registered an increase of 11%. Thus, the Consumer Price Index (CPI) reported by INDEC showed an accumulated increase of 51.6% so far this year and a year-on-year increase of 287.9%. Last month’s indicator showed a decrease of two percentage points compared to February’s figure of 13%. On the other hand, INDEC reported that the Total Basic Food Basket index for March increased by 10.5% with respect to the previous month. Thus, a typical family needed $773,385.10 to not be poor in that period. Meanwhile, the Basic Food Basket, which marks the threshold for not falling into indigence, rose 10.9% and a family needed $115,873 to cover basic food needs. According to INDEC, the Basic Food Basket has an accumulated increase of 48.8% so far this year, while the year-on-year variation reached 308.2%.

Infobae: En el homenaje a los caídos en Malvinas, Milei convocó a una nueva era de reconciliación con las Fuerzas Armadas

3. Transportation strike in the AMBA 

As from midnight on Thursday, a significant number of bus lines stopped running in the Metropolitan Area of Buenos Aires (AMBA), as part of a work stoppage confirmed by the Unión Tranviarios Automotor (UTA). The reason is due to the demand for a salary increase that the companies have already announced they are not able to pay. In view of this situation, the drivers initiated the strike which affects millions of passengers. More than 400 bus lines are grouped in the chambers of AAETA, CEAP, CETUBA, CTPBA and CEUTUPB, and it is estimated that about 9 million passengers are affected by the abstention of tasks. During the first hours of Wednesday, the union issued a statement where it explained that “in view of the fact that the business sector refuses to pay salaries in the agreed amounts, despite the fact that the national and provincial governments contributed in subsidies the sum of more than $122 trillion with an increase over the previous months of 42% and an increase in the value of the ticket paid by users of 250%, despite this they state that the governments must contribute a higher amount because the amounts received are not enough to cover the costs.” In this context, the Secretary of Transportation of the Nation, Franco Mogetta, defined the strike as part of the “extortive methods” of the unions, although he also announced that he will fine the companies for not sanctioning the bus drivers who join the strike. He also told the owners of the companies that their licenses could be taken away.

Infobae: Paro de colectivos: hasta cuándo durará la retención de tareas de los choferes de la UTA en el AMBA

4. Javier Milei to travel to the US and Denmark

President Javier Milei will tour the United States, followed by a visit to Denmark. The President began his trip by taking off at midnight on April 9 for Miami. There, he received the International Ambassadors of Light award from the Jewish community for “his unwavering dedication to spreading freedom” and “his tireless efforts for Israel and the global community.” He also had a meeting with the President of the Inter-American Development Bank (IDB), Ilan Goldfajn, and the organization’s managers, Matias Bendersky and James Scriven. The President will then go to Texas for a meeting with Elon Musk, CEO of Tesla Motors and SpaceX. Finally, on Saturday afternoon, he will take a commercial airliner to Copenhagen to meet with Mette Frederiksen, Prime Minister of Denmark, where he will participate in the last formal stage of the purchase of 24 F16 aircraft for the Air Force.

Ámbito: Javier Milei inició su segunda visita a EEUU: fue nombrado “Embajador de la luz” y se espera su reunión con Elon Musk

5. The Government formalizes changes in the Ministry of Economy

The Ministry of Economy absorbed a large list of decentralized agencies and public sector companies. The officials that were in place during the administration of Guillermo Ferraro remain in their positions. On Monday, the Government made official the new updated organization chart of the Ministry of Economy, which will give the head of the Treasury Palace power over secretariats that belonged to the eliminated Ministry of Infrastructure that Guillermo Ferraro commanded at the beginning of the administration. There will also be a long list of decentralized agencies and public entities that will be under Luis Caputo’s wing.
The Government published in the Official Gazette this Monday the new org chart of the Ministry of Economy. The transfer of the secretariats of the former Ministry of Infrastructure to Luis Caputo’s portfolio was made official. Although it already had a political management, now it will also have an official administrative management. Secondly, Economía will also be in charge of agencies such as the National Roads Authority, the National Atomic Energy Commission, the National Civil Aviation Administration, the National Roads Authority, the National Civil Aviation Administration, the National Transport Regulation Commission, the National Road Safety Agency, the National Airport System Regulatory Agency, all the public companies operating the railroads, Intercargo and Acumar, among many other entities.

Infobae: La AUH y las asignaciones familiares aumentarán un 27,18% a partir de este mes