Many Argentines blame the IMF for the country’s 2001 financial meltdown, punctuated by a sovereign bond default and steep currency devaluation, which tossed millions of middle-class Argentines into poverty. Now left-leaning activists have taken to the streets to protest the IMF negotiations taking place in Washington while President Macri is trying to convince average Argentines that his policies will attract the investment needed to establish sustainable economic growth. In Buenos Aires, teachers have been staging protests because life is unbearable as the value of the peso continues to decline by a further 30%, sparking even more inflation. They are demanding pay rises, and say they have been living below the poverty line. To watch a video of thousands of people taking to the streets almost every day go to:
Argentina: protests as inflation soars
Written by David Fletcher 24 May 2018Additional Info
- Pray: for God to inspire Argentina’s government, commerce and industry in all decisions. (Psalm 85:8)
- More: www.reuters.com/article/argentina-rates/update-2-argentina-keeps-hawkish-inflation-stance-policy-rate-unchanged-idUSL2N1ST1XY
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