Some 60 legislators from Union for the Homelandincluding senators and deputies, converged on the Legislative Palace to emphasize in a press conference their opposition to the Decree 846/2024which proposes a free public debt swapand urged other spaces to join in the rejection in the Bicameral Commission for Legislative Procedure.
The conference was an expression of unity, as representatives from various districts and internal spaces were present. The speakers of the day were: German Martinez and Jose Mayansheads of the blocks of both chambers, and it was the man from Formosa who made it clear that “we are all here who think of a free, just and sovereign country. We will work accordingly to offer the Argentine people an alternative. valid to build a dignified life and have social justice.”
Germán Martínez was the first to speak and pointed out that the call is made in the run-up to the debate on the Budget 2025 and pointed out that in the current administration there was “the return of the centrality of debt“. He also recalled that the modification of the regulatory framework with respect to public debt was attempted to be made in the Bases law and, in the subsequent negotiations, it was removed from the wording. “What is the rush? Why are they doing it by DNU?”, the deputy asked and continued: “This is part of the preparatory acts; They are building the legal path to carry out a formal or informal debt swap behind the back of Congress”.
“To reject this DNU We need our vocation but also that of other political spaces “in order not to be run over by this Executive Power,” he said and stressed: “Our political space will not recognize any type of debt exchange process that is done within the framework of this Executive DNU and that wants to take over the Financial Information Act and without the proper participation of Congress.” “The legal framework may be attractive for bondholders but it will be detrimental to Argentines,” he said.
After a historical account of the debt and the reforms of the pension system, Jose Mayans He said that the national public debt went from US$377 billion to US$458 billion in the eight months of the current administration: “The Minister of Economy He has the obligation to come to Parliament to explain what he is doing with the debt and with Argentine money, as well as how he is going to pay that debt.” To conclude, he said: “This is an open robbery of the country“.
They ask for treatment by the Bicameral Commission for Legislative Treatment
So much German Martinez as Jose Mayans They insisted on the treatment of DNU 846/2024 in the Bicameral Commission for Legislative Processingwhose last meeting was on August 8. “We are going to put our strength in the commission to reject the DNU in its entirety,” the senator stressed.
Regarding the Decree 70/2023 (which is in force in matters of rent and credit cards, among other issues) which was rejected in the Senate but not in the House of Representatives, Martinez said that “we never entered into a game of ‘give and take’ with the Government” and stated that “we see that the deputies from the different political parties are not in a different position than they were four months ago.”
In dialogue with this medium, the senator Teresa Gonzalez indicated that from the direction of the Bicameral Commission “They have been avoiding the call and including these issues in the agenda. That is why we held this conference: so that it is known and does not go unnoticed.” Finally, the deputy Vanessa Siley He stated that the requests for a new call have been made official and that ties with the Federal Meeting are being strengthened to repeal conflicting decrees.
Asked by Ámbito about whether this represents a recovery of the Peronist initiative, the senator Mariano Recalde He analyzed that “we have initiative… with the votes we have. We showed it in retirement and university financing.”
What does Decree 846/2024 that Union for the Homeland seeks to repeal say?
He Decree 846/2024 It was published in the Official Gazette on September 20 and has six articles, three of which address its communication and one repeals a past decree by Javier Milei (280/2024)which simultaneously cancels the Article 74 of Law No. 24,241which states that “pension fund managers may invest the assets of the managed fund in public securities issued by the Nation through the Ministry of Finance, or the Central Bank of the Argentine Republic, up to 50% of the total assets of the fund.”
Another of them replaces article 74 of the National Law of the Integrated Retirement and Pension System No. 24,241 but ratifies that retains up to 70% of the Sustainability Guarantee Fund of the Argentine Integrated Pension System (FGS) in public securities, whether or not they have guarantees.
However, The most relevant is the second article of DNU 846/2024 which provides that “the Future subscriptions to public debt instruments, regardless of their payment currency, may be made with public debt instruments regardless of their payment currency.. The prices of the instruments will be set taking into account the values existing in the markets for each of the operations carried out.”
Source: Ambito
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