Argentina: Police, Protesters Clash as Senate Passes Reform Bill

Facts

• Riot police and anti-government protesters clashed outside Argentina's National Congress in Buenos Aires on Wednesday as the Senate voted 37 to 36 to approve a 238-article reform bill and a fiscal package.¹
• Security forces used tear gas and water cannons to disperse the crowds after demonstrators surged toward isolated streets surrounding the central square and threw sticks, stones, and Molotov cocktails.²
• Five Unión por la Patria lawmakers, who form the opposition, were reportedly taken to a medical center for burn victims, where they reportedly must remain in observation for a week due to chemical eye and skin burns.³
• Wednesday's legislative victory was the first for Pres. Javier Milei during his six months in office, however, the package of pro-market reforms and fiscal measures intended to attract investment had to be scaled back in order to advance.⁴
• Vice President Victoria Villarruel cast the decisive vote after more than 12 hours of debate. The bill is set to return to the lower house Chamber of Deputies for final approval once senators discuss individual chapters.⁵
• Meanwhile, Argentina's bonds and currency Thursday rallied after the key reform bill and fiscal package passed the Senate, as well as a two-year extension of a currency swap line with China.⁶

Sources: ¹Guardian, ²FOX News, ³Buenos Aires Herald, ⁴Wsj, ⁵Buenos Aires Times and ⁶Reuters.

Narratives

• Right narrative, as provided by The Telegraph. Milei took over a country in the depths of unprecedented economic and political turmoil, and he's already turning it around in six months. Once a beacon of Western excellence, Argentina was driven to a societal low due to leftist regimes, but Argentina is enjoying the start of a promising recovery. Milei's market-based reforms are saving Argentina.
• Left narrative, as provided by Al Jazeera. Argentina's self-declared anarcho-capitalist has so far aggravated recession, increased poverty to 55%, and increased annual inflation to 300%. Given that austerity has failed several times in Argentina, popular opposition to such measures is anything but surprising. If approved, these reforms will further undermine living conditions in the Latin American nation.

Predictions