Argentine President Javier Milei signed vetoes striking down two laws increasing pension and disability funds that were passed last month, government sources confirmed to the Herald. Congress could reverse the decision, which is set to be made official in Monday’s official gazette.

The news comes as no surprise, as the president has been adamant that he would overrule the raise since before the bills were passed. He has systematically argued that they would jeopardize the country’s fiscal surplus, which his administration accomplished through sweeping cuts. The International Monetary Fund (IMF) staff report published on Friday also mentioned that the vetoes were coming.

In an interview with streaming channel Neura aired on Thursday night, Milei said the approval of the bills was partly responsible for weakening the country’s currency, the peso. 

The exchange rate surged to AR$1,380 this past week, in what the president claimed without evidence was a conspiracy concocted by local banks, U.S. Nobel laureate........

© Buenos Aires Herald