Argentina biggest labor group calls strike, raising pressure on Macri

June 13, 2018 01:39
1 minute read.
Breaking news

Breaking news. (photo credit: JPOST STAFF)


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief


BUENOS AIRES - Argentina's leading labor federation announced plans on Tuesday to stage a one-day general strike on June 25 to protest against government economic policies, raising pressure on President Mauricio Macri as he moves to speed up spending cuts to balance the budget.

In a statement, the CGT umbrella group of labor organizations slammed the $50 billion funding deal the South American country signed with the International Monetary Fund (IMF) last week, arguing it would "dramatically aggravate an already unsupportable social situation."

Macri's announcement last month that Argentina was turning to the IMF, following a run on the peso currency, raised political risk for the government. Many Argentines blame IMF-imposed austerity policies for aggravating a 2001-2002 economic crisis that plunged millions into poverty.

As part of the $50 billion funding deal, the South American country said it would target a fiscal deficit equivalent to 1.3 percent of gross domestic product in 2019, down from 2.2 percent previously. The government aims to balance the budget by 2020 and achieve a primary surplus in 2021.

The government and the IMF said social programs for the poor would be untouched under the deal. But opposition politicians and labor groups have said it would add to the pain already felt by working class Argentines as a result of utility price hikes and rising imports that have harmed the industrial sector.

"The vulnerable sectors are more vulnerable by the day," Hector Daer, one of the three union leaders that make up the CGT triumvirate, told reporters.

The CGT's strike plans are the latest sign that labor pressure is building on Macri, a market-friendly former businessman who took office in December 2015 following more than a decade of populist rule. On Monday, the powerful teamsters' union announced a truckers' strike for June 14.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
October 16, 2018
Turkish foreign minister says no 'confession' from Saudis over Khashoggi