Overview

• An overnight decree in the Official Gazette confirmed President Javier Milei’s veto of the law mandating automatic, daily Aportes del Tesoro Nacional transfers to provinces, a measure governors backed after alleging improper retention of funds.
• The decree argues discretionary control of ATN is a structural necessity for rapid federal responses to provincial emergencies and that automatic distribution would undercut that purpose.
• The project now returns to the Senate, where a two‑thirds majority would be required to reject the veto and leave the ATN distribution law in force.
• The government has launched a Mesa Federal and delegated Economy Minister Luis Caputo to negotiate the 2026 Budget and priority tax and labor reforms with governors, following initial meetings with allied provincial leaders.
• Talks unfold with IMF pressure for revenue‑sharing and fiscal‑rigidity reforms and after discussions with the IDB on a Country Strategy 2025 of up to USD 10 billion over three years that could channel funds to provinces with sovereign guarantees.