Argentina orders brake on medicine prices

by times news cr

2024-04-24 01:25:50

After a series of increases following the deregulation of the economy promoted by the president Javier Milei, the Presidency of Argentina ordered private medicine companies to roll back their prices to December 2023.

In that month, the far-right Milei, who many times stated that price regulation was “an aberration,” signed a decree of necessity and urgency that, among other things, freed the prices of the economy.

From that moment, medical companies, which due to the regulations then in force increased their prices below inflation in 2023, ordered increases that in many cases exceed the 150% between January and March of this year.

The spokesperson for the Presidency, Manuel Adorni, explained that it is a “complaint for alleged cartelization” and said that the Superintendence of Health Services will present a precautionary measure before Justice to force private medicine companies (known as prepaid) to “roll back the value of the fees and return to members the amount above inflation that they charged since December.”

In a statement, the Ministry of Commerce explained that “in the framework of an investigation for alleged collusion, the National Defense Commission Competence (CNDC) determined, preliminarily, that there are solid indications of an agreement between the companies.”

The minister of Economy, Luis Caputo, who mentioned days ago that prepaid companies declared a “war on the middle class”, highlighted that the measure was taken “using the institutional tools” available.

On Tuesday the president of the main Chamber of the sector resigned, Claudio Belocopittwho denied the accusations and complained to the channel LN+: “Why don’t we look at all the other sectors of the economy? In terms of fuel, if Shell raises prices, within five minutes YPF does the same.”

2024-04-24 01:25:50

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