Ruling party La Libertad Avanza (LLA) has reversed its decision to eliminate restrictions on foreign land ownership in Argentina in a bid to derail a congressional session called by the opposition for Thursday, which aims to address the issue.
On Wednesday, LLA and its allies in the Lower House agreed to include a provision reinstating limits of 15% on the share of Argentine land that foreign nationals can purchase, in a private property bill that was already approved by the Senate.
The government had previously sought to eliminate those restrictions through a presidential decree known as DNU 70/23, but a federal judge temporarily restored those limits, declaring article 154 of the DNU unconstitutional and blocking the lifting of restrictions.
Now the opposition is calling for a special session on Thursday to discuss overturning DNU 70/23 in its entirety, which would deliver a massive blow to the government’s deregulation plans.
Opposition lawmakers also intend to vote on bills to provide financial aid for people with disabilities and those working in the disability sector and introduce tools to help people struggling with debt.
Several deputies that are allies of the government had been considering attending the session scheduled for Thursday at 2:30 p.m. to support overturning the presidential decree.
In an effort to undermine support for the session, LLA and its allies reached an agreement on Wednesday to include the restrictions on foreign land ownership in the government’s private property law, which is due to be debated on October 21.
This is expected to prevent the opposition from reaching a quorum during Thursday’s session.
What is the Land Law
The agreement seeks to reinstate in full a 2011 law on rural land and natural resource protection known as the “Land Law,” which, among other provisions, stipulated that foreigners could own no more than 15% of the country’s land.
The law was passed under former President Cristina Fernández de Kirchner, Milei’s political nemesis. The president’s DNU 70/23, published in December 23, shortly after he took office, repealed the Land Law.
The current agreement between LLA and its allies to reinstate the law was reached at a Lower House committee meeting on Wednesday, where the blocs agreed on the text of a draft government-backed bill aimed at protecting the right to private property.
The private property bill passed the Senate in August amid protests and widespread opposition. It included a chapter that initially sought to eliminate the cap on foreign land purchases entirely, before being amended to establish a 25% limit.
Eventually, amid the strong public backlash, the article was dropped to secure approval of the rest of the bill.
Supreme Court
While the government failed to pass new legislation eliminating restrictions on the purchase of land by foreigners, those limits were lifted on September 30 when Argentina’s Supreme Court overturned the lower-court ruling that had blocked article 154 of DNU 70/23, which repealed the Land Law.
However, the removal of the restrictions lasted only nine days. Last week, the Supreme Court temporarily reinstated the limits by once again suspending article 154 while a lower court examines another legal challenge to the measure.
The ruling had sparked public outcry, prompting opposition lawmakers to propose rejecting DNU 70/23 in its entirety.
La entrada LLA makes 180-degree turn on ‘Land Law’ as opposition pressures Congress se publicó primero en Buenos Aires Herald.