MercoPress. South Atlantic News Agency

Peronists oppose Milei's intention to take another loan from the IMF

Milei's DNU circumvented his duty to have Congress approve indebting the country, the PJ argued

Argentina's Justicialist [Peronist] Party (PJ) led by former President Cristina Fernández de Kirchner (CFK) Tuesday expressed its rejection of President Javier Milei's Emergency Decree (DNU) 179/25 clearing the way for further borrowing from the International Monetary Fund (IMF) with no Congressional approval. The PJ deemed the initiative “illegitimate” and unconstitutional on the grounds that it violated Law 27.612, which requires the Executive to submit full IMF agreement details to Congress, and Article 75 of the National Constitution, which assigns Congress the authority to manage national debt.

The PJ also warned that the potential approval in Congress would grant Milei “extraordinary powers,” prohibited under Article 29 of the Constitution. It also accuses the Libertarian Government of advancing the measure “behind the back of the Argentine people” absent a 2025 Budget.

The decree is up for debate in the Lower House Wednesday amid the Retirees' Protest which is feared to spark further violence between demonstrators and the police.

“Tomorrow, under pressure and in a hurry, the ruling party intends to treat, in the Chamber of Deputies of the Nation, the DNU 179/25 by means of which the President of the Nation authorizes himself to unilaterally move towards a new agreement with the International Monetary Fund without knowing the amount, fixed interest rate, maturity dates, or any of the agreed conditionalities”, a document from the PJ stated.

As Senator José Mayans outlined the technical arguments against the decree, the PJ statement also focused on the lack of a 2025 Budget. “It is impossible to ignore that this serious situation takes place in a context in which, due to the unavoidable responsibility of the ruling party and other sectors of the 'opposition', the Argentine Republic does not have an approved Budget for the second consecutive year,” the main opposition party stressed.

“We have to be clear: the Argentine deputies and senators who vote for the approval of DNU 179/25 would be granting Javier Milei the 'extraordinary powers' which are null and void under Art. 29 of the National Constitution,” the document further highlighted.