Argentinian President Milei Announces $8 Billion Plan to Privatize Aerolíneas Argentinas

Sep 27, 2024, 06:08 PM

Argentinian President Javier Milei has announced plans to privatize the state-owned airline, Aerolíneas Argentinas, through an executive decree. The move comes amid Milei's broader agenda to implement radical economic reforms, including the Ley Bases, aimed at reducing government expenditure and stimulating foreign investment. Since Milei's victory, Argentina has seen an $8 billion surge in foreign currency deposits. The proposed privatization has sparked a standoff with unions and is part of Milei's efforts to address the country's economic challenges, including high inflation and poverty rates, with half of Argentines living in poverty. Additionally, the government has introduced measures to regularize informal employees without fines or taxes.