Crisis in Argentina is accentuated with new change of Minister of Economy

Government announced Sergio Massa as the new ‘super-minister’ to try to resolve the country’s crisis; annual inflation is 64%

Luis ROBAYO / AFPArgentine protests
Protests for universal wages and against the economic crisis marked the week in Argentina

the government of Argentina announced Sergio Massa as the new “super-minister” of the Economy after the departure of Silvina Batakis and the Argentines took to the streets on Thursday, the 28th, to protest against the socio-economic crisis in the country, which has an annual inflation of 64%. Massa is the president of Chamber of Deputies and he will not only be Minister of Economy, but also Minister of Production and Fisheries. The parliamentarian is known for having a good relationship with both Cristina Kirchner and Alberto Fernández. On the other hand, he has no economic background, although he is said to have an excellent relationship with the United States It is like IMFsomething essential for Argentina, given that they have to pay a huge debt and the IMF is helping the country economically so that the nation can get out of this economic crisis.

On the other hand, there were more protests yesterday. They were carried out by organizations and leftist movements that demanded a universal basic salary, which would correspond to 3,000 pesos, the value of a basic food basket in Argentina, and a bonus of 20,000 pesos for retired people. Protesters were also opposed to the Central Bank’s decision on a soybean dollar, a measure proposed by the Bank to liquidate soybeans and obtain 2.5 billion dollars to fill the country’s foreign exchange reserves. Inflation rose 5.3% in June, which also sparked protests. Within this inflation, the sectors that suffered the most were footwear, clothing, food, health, water and electricity. In food, the ones that increased the most were sunflower oil, milk and lettuce.

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*With information from reporter Maria Laura Assis

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