Amidst ongoing austerity measures, Argentina is set for a 24-hour strike as citizens protest President Milei’s budget cuts. These cuts, while achieving a budget surplus, have increased poverty and decreased purchasing power for many. The strike aims to draw attention to the impacts of austerity on vulnerable groups, coinciding with the anticipation of a crucial IMF loan approval.
Argentina is preparing for a 24-hour general strike starting at midnight, as President Javier Milei anticipates news on a new International Monetary Fund (IMF) loan. Thousands of citizens participated in an anti-austerity protest in Buenos Aires, marking the third strike during Milei’s presidency, which has seen aggressive budget cuts known as his “chainsaw” approach to government spending.
Milei has enacted significant reductions in transport, fuel, and energy subsidies, resulting in mass layoffs in the public sector and the closure of government departments. While these austerity measures have decreased inflation and achieved a budget surplus for the first time in over a decade, they have also driven the country into recession and increased poverty.
Hector Daer, secretary general of the CGT labor movement, emphasized that the cost of austerity disproportionately affects vulnerable populations, asserting, “The cost (of austerity) for vulnerable sectors is infinitely higher than is suggested by the monthly inflation index.” The strike is anticipated to cause major disruptions across transportation, education, and financial services in Argentina.
Argentina currently faces one of the highest inflation rates globally, although Milei’s policies have decreased this rate from 211% in 2023 to around 66%. Unions argue that macroeconomic improvements do not reflect the average citizen’s declining purchasing power. Advocacy from pensioners, heavily impacted by Milei’s financial cuts, has gained momentum as protests are supported by labor unions and social movements.
Milei’s administration is awaiting the finalization of a $20 billion IMF loan that would address central bank debts and tackle inflation—crucial as the mid-term legislative elections approach. Argentina’s existing burden of $44 billion owed to the IMF has led to negotiations for a preliminary loan agreement, with potential executive board approval from the IMF in the near future.
The article discusses Argentina’s upcoming 24-hour general strike fueled by public frustration over austerity measures implemented by President Milei, which have led to significant poverty despite achieving a budget surplus. As the country awaits news on a crucial IMF loan, the situation underscores the tension between macroeconomic adjustments and the real-life impacts on citizens’ livelihoods. The protests highlight the urgent call for addressing the rights and welfare of the most affected sectors, especially in light of significant inflation rates that continue to strain the population.
Original Source: www.myleaderpaper.com
