Lee DunaArgentine austerity anger mounts, but govt says its working
PugJesusAnnual inflation has hit 254 percent and since Milei ripped away hefty transport and fuel subsidies the price of bus tickets has more than tripled.
"Now I know what it's like to walk," 42-year-old domestic worker Yanina Salto told AFP, who used to take four trips a day to get between jobs.
The cost of medicine has soared over 300 percent year-on-year.
While the government decreed a 30 percent salary increase by March, this is far less than the 85 percent demanded by labor unions -- and the walk-outs are mounting.
On Wednesday, train drivers downed tools, and on Thursday healthcare workers across the public and private sector went on strike, with only hospital emergency rooms expected to function.
Teachers have called a strike for the start of school next week, and the country's main CGT union is debating another general nationwide walkout.
Great success!
YeatherThat’s what happens when your previous government runs the economy into the ground. It was only ever going to get worse before it got better, over time it will equalize and stabilize just like it always does.
Or, bear with me here, maybe going against the advice of every major school of economics in as many sectors as possible is a bad idea?
Privatizing, cutting expenses, and building foreign currency reserves are all reccomended policies, especially if your government is bankrupt and your currency was worth next to nothing. Argentina will come out of this stronger for it.
Don’t privatize things like healthcare.
Source: am American. Our healthcare system SUCKS.
Privatization is one of the recommended policies, but essentially every place that has implemented it isn’t better off now. Studies show that it works for increasing the performance of the enterprises, but making shareholders richer doesn’t really matter for standards of living. Even the IMF and IBRD have started to see issues with privatizing everything. Argentina will one day be stronger, but not as a result of these policies.