Thousands of people demonstrated this Thursday in Buenos Aires to demand the establishment of a “universal income” in an Argentina in the midst of an economic crisis where galloping inflation impoverishes many households.
The procession gathered under the windows of the presidential palace where centre-left President Alberto Fernández met with his finance minister, Silvina Batakis, who opposes such a move, as rumors of a cabinet reshuffle mount.
“Poverty has taken over the country,” Monica Sulle, leader of the Socialist Workers Movement (MST), told AFP.
One of the highest inflation rates in the world.
The establishment of a universal income has been demanded for weeks by radical leftist groups once close to the ruling “Front of All” coalition but now opposing the government as the economic and social situation deteriorates.
They estimated its amount equivalent to two basic food baskets for an adult, or about 67,000 pesos (490 euros at the official exchange rate) for all low-income people.
Argentina has one of the highest inflation rates in the world, with an accumulated rate of 36.2% in the first half of this year alone, and poverty affects 37% of the 45 million inhabitants.
“This non-stop inflation is invited at all tables, in all social sectors, but for the poorest it is a disaster,” Vilma Ripoll, leader of the Left and Workers’ Front (FIT), told AFP.
An upcoming redesign?
Argentina, which renegotiated with the IMF the rescheduling of a loan of 44,000 million contracted in 2018, has committed to reducing the public deficit from 3% in 2021 to 0.9% of GDP in 2024.
Silvina Batakis has just returned from Washington where she met with IMF Managing Director Kristalina Georgieva and other representatives of multilateral organizations.
According to the Argentine press, President Fernández could announce in the coming days a reshuffle of his government, which Silvina Batakis joined less than a month ago after the resignation of his predecessor, Martín Guzmán.
Source: BFM TV
