Javier Mileis presidency, which started in December last year in Argentina, brought significant attention to his legislative agenda in Congress.Among his anticipated policies was the privatization of Yacimientos Petrolferos Fiscales (YPF), a move closely watched by international investors.Achieving a legislative majority proved challenging for Milei, as unions and politicians opposed his policy packages, Ley mnibus and DNU.The proposal to privatize YPF initially included in the Ley mnibus, was removed to increase its likelihood of passing through Congress.This decision, made after a week of discussions and confirmed as the government sought wider support, led to a 3.73% drop in YPFs shares in New York trading.In the Chamber of Deputies, Mileis party, La Libertad Avanza (LLA), holds 37 seats, forming the third-largest group.Argentinas YPF Privatization Plan Faces Hurdles.
(Photo Internet reproduction)Their alliance with Juntos por el Cambio (JxC), which has 93 deputies, brings their total to a comfortable majority of 130.Yet, not all JxC members fully support Milei, casting uncertainty over this majority.
The opposition, Unin por la Patria (UP), remains the largest block with 108 deputies.Ley mnibus and DNUIn the Senate, the situation mirrors the Chamber, with LLA having 8 senators, JxC 24, and UP 34.Achieving a majority in the Senate requires 37 seats, making coalition-building vital for legislative success.Both the Ley mnibus and DNU encompass extensive policy proposals under debate in Argentinas legislative and judicial circles.The lack of popular support for these measures also influences their potential approval.Mileis cabinet recently removed proposals for federal extraordinary powers in fiscal matters, preserving provincial financial control.As parliamentary activities resume, the focus intensifies on Mileis initiatives.The outcomes of these debates are crucial, as they reflect Argentinas current political dynamics and impact the countrys economic stability and international investment climate.