Argentina Declares National Railroad Emergency To Improve Safety

Argentine President Javier Milei declared a national emergency for the country’s railway network, the transportation secretariat said in a statement Thursday.

• Decree lends national government the authority to “improve safety conditions” through infrastructure renewal
• Railway companies encouraged to renegotiate debts and contracts inherited by the previous administration
• Establishes allocation of 1.3 trillion pesos ($1.4 billion) for investments necessary to improve operational safety conditions
• Emergency declaration covers passenger and cargo networks for a period of 24 months
• Secretary of Transportation to prepare action plan within 15 days
• NOTE: Argentina Bonds Jump as Milei’s Reform Bills Notch Partial Win

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