Argentina's Milei signs decree to boost exports, deregulation

Argentina's President Javier Milei, a libertarian, signs economic reform decree removing export limits and easing regulations amid a severe economic crisis.

Argentina's libertarian President Javier Milei on Wednesday said he has signed an economic reform decree that will end limits on exports and authorize measures to loosen regulations, as his new government combats a severe economic crisis.

"This is only the first step," Milei said in a televised address.

Milei, who has pledged economic "shock" therapy including deep spending cuts in a bid to tame surging inflation, took office less than two weeks ago after campaigning on a promise to reverse the country's prolonged slump.

Last week, his government devalued the Argentine peso by over 50%.