Thousands of people march against austerity policies in Argentina

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Argentinean consumers confront the meaning of peso diving on the market

  • published: Sep 11, 2018
  • Views: 618

(Sept. 6, 2018) While Mauricio Macri's government is trying to save a crisis-ridden economy, the resulting austerity is forcing a large part of the huge Argentinian population to adapt their habits to survive.
On Thursday, buyers visited the stalls of the San Telmo market in Buenos Aires to see where their pesos would go and how much they could buy.
The butchers occupied themselves with their meat and talked to each other while waiting for the customers.
"On this stand, you had lines and now there is no one left," said Carolina Zwass, a retired office worker. "From what I see, it's the beginning."
Last week, the peso fell to 39.2% to one US dollar.
The government has imposed interest rate hikes and tightened the budget deficit target to try to stop the devaluation.
On Wednesday, Argentina's Minister of Economy Nicolas Dujovne met with IMF Managing Director Christine Lagarde.
He called for an early disbursement of emergency funding of a $ 50 billion loan approved earlier this year.
"Today, in Argentina, many people are struggling to make ends meet," said Marcelo Trovato, an economic analyst in Buenos Aires.
"Salaries in real terms have fallen by about 30%."

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Argentinean consumers confront the meaning of peso diving on the market

  • published: Sep 11, 2018
  • Views: 618

(Sept. 6, 2018) While Mauricio Macri's government is trying to save a crisis-ridden economy, the resulting austerity is forcing a large part of the huge Argentinian population to adapt their habits to survive.
On Thursday, buyers visited the stalls of the San Telmo market in Buenos Aires to see where their pesos would go and how much they could buy.
The butchers occupied themselves with their meat and talked to each other while waiting for the customers.
"On this stand, you had lines and now there is no one left," said Carolina Zwass, a retired office worker. "From what I see, it's the beginning."
Last week, the peso fell to 39.2% to one US dollar.
The government has imposed interest rate hikes and tightened the budget deficit target to try to stop the devaluation.
On Wednesday, Argentina's Minister of Economy Nicolas Dujovne met with IMF Managing Director Christine Lagarde.
He called for an early disbursement of emergency funding of a $ 50 billion loan approved earlier this year.
"Today, in Argentina, many people are struggling to make ends meet," said Marcelo Trovato, an economic analyst in Buenos Aires.
"Salaries in real terms have fallen by about 30%."

Learn more about AP Archive: http://www.aparchive.com/HowWeWork
Twitter: https://twitter.com/AP_Archive
Facebook: https://www.facebook.com/APArchives
Google+: https://plus.google.com/b/102011028589719587178/+APArchive
Tumblr: https://aparchives.tumblr.com/
Instagram: https://www.instagram.com/APNews/

You can use this story under license …