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Cake day: June 16th, 2023

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  • Honestly, many of these reforms are urgently needed and long overdue, such as lifting export controls—it’s literally insane that a country facing a shortage of foreign exchange would deliberately crimp its own exports. For these parts, Milei has a pretty good justification for issuing an emergency decree.

    The big gamble Milei is taking is to stuff the package with a bunch of lower-priority items that, while arguably needed, are hard to defend as emergency measures. (This is quite similar to what the US government has often done, see e.g. the Inflation Reduction Act.) This increases the risk of the package being voted down, which hasn’t happened before with his predecessors’ decrees.