In Argentina, the Challenges and Benefits Facing Milei's Deregulation Push

Dec 21, 2023 | 16:45 GMT

A graph falling down in front of the Argentine flag.
A graph falling down in front of the Argentine flag.

(NatanaelGinting/Getty Images)

The Argentine government's push to substantially deregulate the economy and strengthen competition in the private sector will face significant challenges in the short term, but even if only a part of the reforms is implemented, the result will be a more attractive business environment in South America's second-largest economy. On Dec. 20, Argentine president Javier Milei announced an emergency decree with more than 300 measures to deregulate the economy. The decree removes regulations in the housing rental market, eliminates price controls for goods and services and changes the legal status of state-owned companies (with the aim of eventual privatization). It also simplifies export procedures, extends the work trial period for new employees from three to eight months, lowers the costs for companies to lay off workers and removes protections and preferences for Argentine companies over their foreign competitors. Finally, the decree also removes regulations for the airline, healthcare, pharmaceuticals, satellite...

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