Milei’s deregulation efforts dominate Argentina’s agenda

A series of bold moves have marked the start of the Javier Milei presidency in Argentina, reaching far beyond the initial austerity measures announced during his first week in office.

During the presidential campaign, Mr. Milei brandished a chainsaw spewing diesel fumes at rallies — using the power tool to symbolize his willingness to cut the “bloated” state down to size and take on “the political caste.” He didn’t waste any time in putting his chainsaw to use.

Just ten days after taking office, Mr. Milei doubled down on his reform agenda with a sweeping decree that included more than 350 deregulation measures in areas as diverse as land ownership, privatization, price caps, healthcare, credit cards, mining, energy, farming, air travel, motor vehicle registration, commerce, telecommunications, professional football, tourism, labor, and more. 

The decision was followed a few days later by another 183-page, 664-article bill sent to Congress that included fiscal and pension reforms, among numerous other overhauls. Reform architect Federico Sturzenegger promised that this was only the beginning, with more than half of his reform agenda yet to see the light of day.

Mr. Milei’s “mega-decree” sparked mega-controversy, including street protests in Buenos Aires since the night of its announcement, while many constitutional lawyers argue that the government is overstepping its bounds by using emergency procedures to pass reforms that should be debated in Congress.

But the libertarian president is determined to make good on his promise to go all-in on pro-market reforms despite holding a small minority of seats in Congress, with opposition lawmakers vowing to challenge his ambitious agenda.

Sweeping reforms

The decree, which went into effect on December 29, calls for “an economic system based on free choices,” which the state will guarantee through “the most ample deregulation of trade, services and industry,” eliminating all...