In a bold move, Argentina's newly elected president, Javier Milei, has bypassed Congress to implement a series of sweeping reforms. The decision has sparked protests in Buenos Aires and raised concerns about the president's ability to fulfill his term.

Yesterday, thousands of demonstrators gathered in Plaza de Mayo, Buenos Aires's central square, to commemorate the riots that occurred during the 2001 economic crisis. Left-wing organizations called for the protests, expressing their discontent with the shock-therapy measures introduced by the libertarian government. However, due to preemptive actions taken by the hawkish security minister, Patricia Bullrich, the protests were underwhelming.

Following the subdued protests, President Milei stunned the nation by unveiling over 300 measures aimed at deregulating various sectors of Argentina's economy. The comprehensive package includes reforms such as the potential privatization of the country's 33 state-owned companies and the introduction of competition in protected industries.

One of the most notable changes within the package is a clause that could lay the groundwork for the dollarization of the economy. This clause allows contractual obligations and debts to be expressed and settled in foreign currency, even if it is not legal tender in Argentina.

Additionally, the decree includes measures to boost the availability and affordability of generic drugs, significant labor reforms, and reduced power for trade unions. Severance payments may be replaced by unemployment insurance after collective bargaining agreements, and dismissal of employees who participate in strikes that block entry or exit from workplaces is now permitted. Workers in essential sectors, such as health and education, will be required to provide 75% of services even during a strike.

Unsurprisingly, these reforms are anticipated to face legal challenges. Hugo Moyano, a prominent leader of the lorry drivers' union, has already denounced the measures as "unconstitutional." As the decree is lengthy and diverse, it could take several years before its full effects become apparent.

President Milei's decision to bypass Congress has raised questions about his governing style and his limited support in the legislative assembly. With his coalition controlling just 10% of seats in the Senate and 15% in the lower house, he lacks the majority necessary to push through reforms through normal legislative channels.

By addressing the masses directly, including breaking with tradition and speaking to the crowd instead of delivering his inaugural address to Congress, President Milei has provided indications of his preferred governing approach. He has also utilized social media platforms like Instagram to engage with the public, demonstrating a willingness to communicate with his supporters directly.

It remains to be seen whether President Milei's unconventional methods will result in long-lasting success. While analysts predict a short-term boost for the president, they caution that his true test will be his ability to work with Congress in enacting lasting change. The coming months will determine whether President Milei can harness his political capital and drive his radical reforms forward.

In a region witnessing a broader anti-incumbent trend, President Milei's libertarian beliefs set him apart from his Latin American counterparts. However, his push for radical change aligns with a growing wave of political outsiders. The success of reformist leaders in neighboring countries, such as Gabriel Boric in Chile and Gustavo Petro in Colombia, has been hampered by congressional gridlock. On the other hand, revolutionaries like Pedro Castillo in Peru have faced resistance, leading to their removal from power.

As Argentina braces for a period of transformation, President Milei's future hinges on his ability to navigate the complex political landscape and effectively collaborate with Congress to solidify his ambitious reforms.