Argentina Bonds Jump as Milei Reform Bills Pass Senate Test
- VP breaks tie to approve omnibus law but tax measure rejected
- Sovereign notes lead EM gains as government notches win
WATCH: Demonstrations took place outside Congress in Buenos Aires on Wednesday as Argentina’s Senate debated a reform package put forward by President Milei.
Source: APTNPresident Javier Milei took a major step in his economic overhaul of Argentina, winning just enough support to advance his proposals in the Senate even as protests raged in the capital.
After weeks of tense negotiations, senators passed Milei’s market-friendly bill that included privatizations and labor law changes when his vice president broke a 36-36 tie late Wednesday. While a measure to bring back an income tax was rejected in a separate procedure, it stands a chance of being restored in the lower house.