Argentina Braces for 24-Hour General Strike Amid Austerity Measures

Thousands of Argentines Protest Against Austerity Measures

Thousands of Argentines turned out for an anti-austerity protest on Wednesday, setting the scene for a 24-hour general strike slated to start at midnight as President Javier Milei awaits news on a fresh IMF loan. The peaceful demonstration in the capital Buenos Aires preceded Thursday’s walkout, which is the third general strike in budget-slashing Milei’s 16-month-old presidency.

Austerity Measures Spark Protests

Milei had famously wielded a live chainsaw during his presidential campaign to symbolize the cuts he would make to the bureaucracy and social spending. In office, he has slashed subsidies for transport, fuel and energy, fired tens of thousands of public servants and shuttered entire government departments. The measures have reduced inflation and resulted in Argentina’s first budget surplus in over a decade, but also tipped the country into recession and millions more people into poverty in the first months of Milei’s government.

Union Leaders Slam Austerity Measures

"The cost (of austerity) for vulnerable sectors is infinitely higher than is suggested by the monthly inflation index," Hector Daer, secretary general of the CGT labor movement, said ahead of the strike. Daer emphasized that the positive macroeconomic figures bely the average Argentine’s loss of purchasing power.

Impact of Austerity Measures

Argentina has one of the world’s highest annual inflation rates, but Milei’s measures are credited with bringing it down from 211 percent in 2023 to 66 percent. Unions say the positive macroeconomic figures bely the average Argentine’s loss of purchasing power.

Pensioners Protest Austerity Measures

A peaceful protest by pensioners, one of the groups hardest hit by Milei’s cuts, was held in Buenos Aires on Wednesday, backed by labor unions and other social movements. Carlos Salas, a 63-year-old civil servant, participated in the protest and expressed his frustration with the government’s austerity measures. "I am here to defend the rights of retirees, I have had enough of this government!" he said.

IMF Loan Agreement

Argentina awaits the final word on a $20 billion loan it is seeking from the International Monetary Fund. Milei says the money will allow his government to pay off its debts to the central bank and help "exterminate" inflation. Argentina already owes $44 billion to the IMF, which said Tuesday it had reached a preliminary loan agreement with the South American country. Final approval by its executive board could follow "in the coming days," according to the lender.

General Strike to Paralyze Country

The action is set to paralyze trains and planes, and shutter schools and banks. National carrier Aerolineas Argentinas, which Milei wants to privatize, announced the cancellation of 258 flights, affecting some 20,000 passengers. Bus drivers were not part of the action.

Conclusion

The 24-hour general strike is a testament to the widespread discontent with President Javier Milei’s austerity measures. As Argentina awaits news on a fresh IMF loan, the country is bracing for a period of widespread disruption. The strike is a reflection of the deep-seated concerns among Argentines about the impact of austerity measures on their daily lives.

FAQs

• What is the reason behind the 24-hour general strike in Argentina?
  Argentina is bracing for a 24-hour general strike due to widespread discontent with the austerity measures implemented by President Javier Milei.
• What are the austerity measures implemented by President Javier Milei?
  President Javier Milei has slashed subsidies for transport, fuel and energy, fired tens of thousands of public servants, and shuttered entire government departments.
• What is the impact of the austerity measures on Argentina’s economy?
  The austerity measures have reduced inflation and resulted in Argentina’s first budget surplus in over a decade, but also tipped the country into recession and millions more people into poverty.
• What is the significance of the IMF loan agreement?
  The IMF loan agreement will allow Argentina to pay off its debts to the central bank and help "exterminate" inflation.
• What is the expected outcome of the strike?
  The strike is set to paralyze trains and planes, and shutter schools and banks.