Culture
Cultural life in Argentina is versatile but
highly concentrated in Buenos Aires. One of the world's
leading opera scenes is the Teatro Colón in Buenos
Aires. Culturally, Argentina is otherwise most famous
for tango. It was born as a dance just before the
transition to the 20th century. Carlos Gardel
(1890-1935) and Susana Rinaldi are among the most famous
tango songs. One of the best known orchestras is the
Sexteto Mayor. The singer Mercedes Sosa (1935–2009) was
one of the foremost interpreters of Argentine and Latin
American folk music. But the tango has continued to
evolve and people today talk about different kinds of
"new tango" with groups like Gotan Project and Bajofondo.
The film industry reached a peak in the 1930s and
1940s. A cartoon pioneer, Quirino Cristiani, came from
Argentina. He made, among other things, the first
animated audio film Peludópolis, from 1931. Swedish
kitten Leopoldo Torre Nilsson, active in the 1960s, is
considered a precursor to several directors, including
Luis Puenzo, Fernando Solanas and Maria Luisa Bemberg.
Argentine film's new names include Diego Lerman,
Lucrecia Martel, Daniel Burman, Maxi Dubois and Juan
José Campanella. The latter won in 2010 an Oscar for
best foreign film with The Secret in their eyes.
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Countryaah:
Latest population statistics of Argentina, including religious profiles and major languages spoken as well as population growth rates in next three decades.
In 2011, the Argentine Film Institute introduced new
fees on international major films in order to protect
the domestic film industry.
Leading authors include José Hernández, Jorge Luis
Borges, Adolfo Bioy Casares, Ernesto Sábato, Julio
Cortázar, Graciela Montes and Alejandra Pizarnik. A
younger generation of writers such as Manuel Puig,
Osvaldo Soriano and Alicia Partnoy have portrayed the
years under military rule. Other important contemporary
authors are Cristian Aliaga, César Aira, Federico
Andahazi, Rodrigo Fresán, Claudia Piñiero, Samanta
Schweblin, Graciela Montes and Ema Wolf. In 2013, the
picture book artist Marisol Misenta received the Alma
Award (awarded in memory of Astrid Lindgren).
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Songaah: List and lyrics of songs related to the country name of Argentina. Artists and albums are also included.
Since the 19th century, Argentine visual arts have
taken their inspiration from European trends; first
landscape painters, such as Prilidiano Pueyrredón, then
impressionists such as Martín Malharro. Ernesto de la
Cárcova and the Nexus Group reflect the social changes
in the turn of the century Buenos Aires. Cubism reached
Argentina in the 1930s through, among others, Emilio
Pettorutti. Among a number of other prominent artists
are Leon Ferrari, Lino Enea Spilimbergo, Antonio Seguí
and Carlos Alonso.
Football and horse polo are the major national
sports.
2019
December
Crisis measures are adopted
December 21
The government's economic crisis program is adopted
by the Senate with 41 votes and 23 against. It includes,
among other things, tax increases for middle and high
income earners, new taxes on agricultural exports and
tax relief for more vulnerable groups, and new currency
controls (see December 11, 2019). In
the past, Parliament's lower house, the Chamber of
Deputies, has also given its approval. High inflation,
which is expected to reach 57 percent in 2019, is one of
many serious problems, with only Venezuela and Zimbabwe
having higher inflation. Another is that the value of
the Argentine peso, which fell by 50 percent in 2018,
has continued to decline (by 38 percent in 2019). In
addition, 41 percent of Argentines live below the
poverty line. However, it is not as bad as in the
previous crisis at the turn of the millennium, when 57
percent of the residents were considered poor. In
order to cope with the worst crisis, the state will
distribute food vouchers to those who have the worst. In
addition, the government has unilaterally decided to
postpone the payment of debt ($ 9 billion, due in August
2020).
The government announces several tax increases
December 17
Argentina's new government announces a 30 percent tax
on all purchases of foreign currency and a freeze on all
prices, including electricity and water, for six months.
When it comes to buying foreign currency, an upper
limit, $ 200 a month, is also set for how much you can
procure. The property tax should also be increased, as
will the tax on those who have foreign assets. At the
same time, all pensioners should receive a "bonus" of
the equivalent of $ 160, which is paid out in two
installments. The measures are aimed at boosting the
Argentine economy.
Bolivia's ex-president gets political asylum in
Argentina
December 12
Bolivia's former president Evo Morales arrives in
Argentina, where newly-elected President Alberto
Fernández has granted him political asylum. Along with
Morales come several former Bolivian ministers. Morales
had previously been granted political asylum in Mexico,
but according to one of his colleagues, he feels "more
comfortable in Argentina".
France will extradite tortured suspected Argentine
December 12
France is preparing to hand over former police
officer Mario Sandoval to the Argentine authorities.
Sandoval is suspected of committing torture and crimes
against humanity during the dictatorship years in
Argentina 1976-1983. Argentine prosecutors have
requested that he be extradited to face trial for his
role in the kidnapping of Hernán Abriata, a student who
disappeared in 1976. Sandoval denies all involvement in
this, but he is suspected of involvement in several
hundred other cases of kidnapping, torture and murder.
Sandoval has been a French citizen since 1997, but the
extradition has been cleared when the crimes commenced
before then. On December 15, the extradition will take
place.
The Minister of Economy is trying to calm lenders
December 11
Argentina's new finance minister Martín Guzmán is
trying to calm the country's lenders by saying that the
new government will try to establish constructive
relations with them. He also emphasizes how fragile the
Argentine economy is. Argentina risks being unable to
meet the next loan payment and Guzmán, who is critical
of the IMF and the austerity policy pursued by the Macri
government, says the new government has already begun
negotiations with the IMF.
Fernandez takes over as president
December 10
Alberto Fernández of the Peronist Frente de Todos
takes over the presidential post. Thus, Argentina takes
a clear step to the left. The new president promises to
try to bridge the country's large social divisions and,
through cheap loans, try to speed up domestic
consumption. Fernandez takes over a country in crisis,
where austerity policies have hit hard on many
Argentines. He says in his installation figure that it
is necessary for a country to have economic growth in
order for it to pay off its foreign debt, but at the
same time emphasizes that the will to repay is available
but not the capacity. Argentina was forced to ask the
IMF in 2018about a major crisis loan and has since
borrowed about $ 44 billion. The total external debt is
estimated to be $ 315 billion, which corresponds to 100
percent of Argentina's GDP. Inflation reaches around 50
percent and about 40 percent of Argentines lead into
poverty. Fernandez drives himself to the ceremony in his
own car, a Toyota, to show that he is a man of the
people. Cuba's President Miguel Díaz-Canel, Paraguay's
President Mario Abdo Benítez and Uruguay's outgoing
President Tabaré Vázquez are the only foreign heads of
state to attend the ceremony. Chile's Sebastián Piñera
decided to cancel because of a plane crash that hit the
Chilean military, and Brazil sent its Vice President.
The US plans tariff duties on Argentine steel and
aluminum
December 2
US President Donald Trump has announced via Twitter
that the tariffs on Argentine and Brazilian steel and
aluminum will be reintroduced. He accuses the countries
of having carried out "massive devaluations" which he
believes strike against American peasants. Exactly how
this will look is not clear. The Argentine peso has lost
60 percent of its value against the dollar since the
beginning of the year. Steel and aluminum account for
about 3 percent of the country's total exports. Steel
exports alone generated revenue of $ 220 million in
2018. The United States is Argentina's third largest
trading partner after Brazil and China. Both Argentina
and Brazil have been able to exploit the US-China trade
war to sell more to the Chinese market at the expense of
American peasants. Trump has had a good relationship
with Argentina's outgoing President Mauricio Macri,
November
Marco Lavagna becomes new finance minister
November 28
The change of power in Argentina is approaching, and
for the first time after the election, incoming
President Alberto Fernández is making statements about
what kind of policy he intends to pursue. Marco Lavagna,
a moderate peronist, is given the important post of
finance minister. However, the entire new government
will only be presented on December 6, just four days
before the change of power. The appointment of Lavagna
also gives a signal that the statistical authority
Indec, will be able to maintain its independence. During
Cristina Fernández de Kirchner's last two years in power
(2013 to 2015), Indec was accused of presenting
inaccurate figures for the government to appear in a
better day.
October
Argentina tightens the currency controls
October 28
Argentina's central bank tightens its currency
controls so that no more money should disappear from the
country's foreign exchange reserves. Not least because
the shift in power is likely to mean that the country
will pursue a more protectionist economic policy. The
election saw a 4 percent decline on the Argentine stock
exchange. There is continued concern that Argentina will
not be able to pay off its $ 57 billion debt to the IMF.
Alberto Fernández wins the presidential election
October 27th
Opposition candidate Alberto Fernández, who is
running for Frente de Todos (The Front for All), wins
the presidential election already in the first round
with about 48 percent of the vote. The incumbent
President Mauricio Macri, who is running for Juntos por
el Cambio (Together for Change), makes a better choice
than expected and gets about 40 percent of the vote (he
gets the most votes in six of 23 electoral districts,
including several of the country's largest cities). In
third place comes Roberto Lavagna from Consenso Federal.
Macri congratulates Fernández for the victory and
invites him to the presidential palace to prepare for
the change of power, which will only happen on December
10. The Vice Presidential election is won by former
President Cristina Fernández de Kirchner. In the
province of Buenos Aires, however, it is clear that Axel
Kicillof, finance minister under Fernández de Kirchner
becomes new governor. In the city of Buenos Aires,
however, a candidate from Macris camp wins. In the
election to the Chamber of Deputies, where half of the
seats were at stake, Macris's alliance Juntos por el
Cambio wins 10 new seats, which looks to give 120 seats,
against about 109 for Frente de Todos. However, Frente
de Todos appears to be getting a grip on the Senate,
where the alliance wins 14 of the 24 seats in the
election, giving it 38 seats, compared to Juntos por el
Cambio, which wins seven new seats and ends on 28 seats.
The turnout is around 81 percent. versus about 109 for
Frente de Todos. However, Frente de Todos appears to be
getting a grip on the Senate, where the alliance wins 14
of the 24 seats in the election, giving it 38 seats,
compared to Juntos por el Cambio, which wins seven new
seats and ends on 28 seats. The turnout is around 81
percent. versus about 109 for Frente de Todos. However,
Frente de Todos appears to be getting a grip on the
Senate, where the alliance wins 14 of the 24 seats in
the election, giving it 38 seats, compared to Juntos por
el Cambio, which wins seven new seats and ends on 28
seats. The turnout is around 81 percent.
Hard accusations in the last TV debate before the
election
October 20
In the last televised debate, which would have been
about security, economics and social welfare, President
Mauricio Macri goes hard on his main rival in the
presidential election leftist Alberto Fernández and asks
what he, who served in both spouses Kirchner's
governments, felt to the corruption alleged to have
occurred then (several legal proceedings are ongoing
against former President Cristina Fernández de Kirchner,
who is also Fernández's Vice Presidential candidate).
Fernández makes counter-accusations against Macri about
whether he knew about how state contracts were
distributed or irregularities that should have occurred
in companies owned by Macris's now deceased father.
Assessors believe that Macri barely managed enough
distrust of the rival for him to be re-elected. Opinion
surveys, which are far from reliable in Argentina,August
2019). Macri is criticized from two directions,
the right says he did not go hard enough to get the
economy in order at the beginning of the term, while the
left accuses him of only protecting wealthy Argentines.
The leftist Fernández favorite to win the
presidential election
October 20
Opposition candidate Alberto Fernández of the Left
Peronist Alliance Frente de Todos (Front of All) is one
of six candidates in the October 27 presidential
election and a big favorite to win the election. He
clearly won in the Argentine primary elections in August
with almost 48 percent of the vote, while incumbent
President Mauricio Macri, whose alliance is called
Cambiemos, received just over 32 percent (see
August 2019). Fernandez's horse is the former
president Cristina Fernández de Kirchner, who is running
for election of vice president. Several judges speculate
that it will be she who will rule behind the scenes if
both are elected, others believe that Fernández is more
independent than that, and that he is not as far left as
his vice presidential candidate. He is also considered a
pragmatic politician and skilled negotiator. Macri won
the 2015 election by promising that Argentina would be a
"normal country", but the economy is again in an acute
crisis, with 2019 inflation appearing to land at 55
percent, and his savings policy has hit hard on many
Argentines. Whoever wins will take over an economy that
is in worse shape than it was before the last election
four years ago.IMFwho granted major crisis loans to
Argentina will want to have a say in the team. Apart
from Macri and Fernández, only Roberto Lavagna,
Kirchner's former finance minister, looks to get at
least 10 percent of the vote. In addition, the
right-wing candidate José Luis Espert, the conservative
Juan José Gómez Centurión and Nicolás del Caño from the
Left Front are participating. To win the presidential
election, a candidate must receive at least 45 percent
of the vote in the first round of elections. At the same
time as the presidential election, elections are also
held for half of the seats in the Chamber of Deputies
and a third of the seats in the Senate. Much of the
election campaign has been about the economy, especially
the high inflation, falling real wages and rising
unemployment, as well as corruption and how public
spending should be managed. Read more about the
Argentine election inThe Foreign Magazine.
September
New crisis measures are planned for poor
Argentinians
September 12
The Chamber of Deputies votes unanimously for new
emergency measures to ensure that the poor population
receives food aid. This will be done through increased
funding for a number of social programs to organize soup
kitchens and more. For the measures to take effect, they
must also be approved by the Senate. In line with
falling peso rates and rising inflation, real wages are
being eroded for many Argentines, which has led to the
rise of poverty in the country again.
Rising inflation exacerbates the crisis
11 September
The falling value of the Argentine peso creates new
problems for the government, as inflation regains
momentum. Prices rose by 4 percent in August, and many
analysts believe they will continue to rise at the same
rate in September, which could beat President Mauricio
Macri's chances of being re-elected. This is despite the
fact that the government has used $ 15 billion of its
foreign currency reserves to keep the rate on pesos.
Forecasts indicate that inflation for the year will
reach 59 percent at year-end. The crisis is triggering
protests, where activists, among other things, block
several Buenos Aires avenues. The opposition and the
Catholic Church are calling on the government to
announce a "disaster state" to ensure that people get
the food they need. At the same time, it is uncertain
when the IMF will pay the next installment of its
support package, much because of uncertainty about the
upcoming election.
Government introduces new currency controls
2 September
To prevent the serious economic crisis in Argentina
from further exacerbating the government's new currency
controls to prevent continued capital flight. This means
that all companies must obtain permission from the
central bank to buy dollars for pesos. Some restrictions
are also imposed on individuals who are allowed to buy
up to $ 10,000 per month to secure their savings, for
larger amounts than the central bank's approval also
require. However, they are not prevented from
withdrawing dollars from their accounts, nor are there
any restrictions on travel or trade. The Argentine peso
has lost almost a quarter of its value to the dollar
since the August 11 primary elections. Outside the
banks, queues ring long with Argentinians waiting to
withdraw dollars from their bank accounts.December
2015).
August
Minister of Finance Lacunza asks the IMF for
secondment with loan payments
August 28th
Finance Minister Hernan Lacunza asks the IMF to
renegotiate the terms of the $ 56 billion loan granted
to the country in 2018. The next disbursement of just
over $ 5 billion will be made in September 2019, and
repayment of the loan is scheduled to begin in 2021.
That Lacunza asks if now there is little room, so that
the repayment should be done at a slower rate than
previously agreed.
The Minister of Finance resigns
August 17th
Finance Minister Nicolás Dujovne resigns after a
financially chaotic week, when the Argentine person lost
20 percent of his value to the dollar. Dujovne is
replaced by Hernán Lacunza, former finance minister in
the province of Buenos Aires. Lacunza says a few days
later that he will use the country's dollar reserve to
defend the people.
Macri provides a variety of selection promises
August 14th
A few days after the loss in the primary election,
President Macri makes a series of promises to voters
ahead of the October 2019 presidential election. Macri
promises to lower income taxes for low-paid workers,
raise grants and introduce a 90-day halt for fuel price
hikes. He also promises a higher minimum wage, unclear
by how much. Workers should receive some kind of bonuses
of $ 33 with the September and October salaries.
Unemployed are promised extra child allowance, while
civil servants and employees of the security forces are
to receive a one-time bonus of $ 83. Small and
medium-sized enterprises should also receive financial
relief. The election promises would cost the state about
$ 665 million to pay.
President Macri loses primary election
August 11th
President Mauricio Macri, who is a candidate for the
alliance of Juntos por el Cambio, loses the primary
election against Alberto Fernández, who has a more
left-liberal profile than the business-friendly Macri.
Fernandez gets 47 percent of the vote against 32 percent
for Macri, whose popularity has declined since the
currency crisis erupted in 2018 and his government
forced to borrow $ 56 billion from the IMF. In practice,
the election serves as a poll for the October 27
presidential election. Fernandez is doing particularly
well in the populous Buenos Aires province, where about
two-fifths of Argentine voters live. It seems as if
Macri lost the strong support he received in the 2015
election from the Argentine middle class, while his
political rival went to the election on a fairly
moderate policy. Fernandez's horse, former president
Cristina Fernández de Kirchner, has kept a low profile
during the election campaign. She has strong support
among about a third of the Argentines, while being
disliked by large groups.
July
The IMF gives a clear sign for a new loan
disbursement
July 12
Argentina may show a surplus of over $ 700 million in
state finances for the first half of 2019. This means
that the government is meeting the target of at least $
20 million that the IMF has set as a condition for
further loan disbursements. Later that day, the IMF
Board decides to pay $ 5.4 billion to Argentina.
However, inflation in Argentina has continued to rise,
although not as rapidly as before.
June
Mercosur concludes free trade agreement with EU
June 28
Argentina and the other Mercosur countries reach a
free trade agreement with the EU after 20 years of
negotiations. However, in order to enter into force, the
agreement must be approved by the European Parliament
and all individual EU states, which can prove difficult
due to increasing protectionism and opposition to free
trade. The agreement is the second largest EU agreement,
covering 780 million people and a quarter of the world's
GDP. Both environmental organizations and farmers in the
EU are critical to the agreement.
Argentina suffers from massive power outages
June 16
Large parts of Argentina are darkened after an
extensive power outage, which also affects Uruguay and
to some extent Paraguay. Almost 50 million people are
without electricity. The problem seems to have arisen at
the Yacycretá hydroelectric plant, but exactly what has
happened should be carefully investigated, President
Macri promises. On Sunday evening, most people have
regained their power.
Mass forms alliance with the Victory Front
June 12
Sergio Massa of the Peronist Renewal Front (FRP)
announces that he joins the opposition alliance that has
the Victory Front's Alberto Fernández as its
presidential candidate and Cristina Fernández de
Kirchner as vice presidential candidate. Massa stands
for a more moderate political line than the other two,
and has strong support in Buenos Aires province.
Ex-minister sentenced to prison for corruption
June 12
José López, a minister during the Kirchner couple's
time in power, is sentenced to six years in prison for
corruption. The case aroused great attention when López
was arrested in 2016 when he tried to hide suitcases
containing $ 9 million in a monastery. López's manager,
Julio de Vido, who was responsible for public
construction, has also been convicted of corruption.
Lopéz is also suspected of embezzlement in connection
with other corruption deals.
Pichetto becomes Macri's vice presidential candidate
June 11
President Mauricio Macri, surprisingly, appoints
Miguel Ángel Pichetto as his Vice Presidential candidate
for the fall election. Pichetto is a 68-year-old lawyer
and peronist, and has previously been allied with Carlos
Menem, Argentina's president from 1989 to 1999, and
Néstor Kirchner, who was the country's president from
2003 to 2007. However, he ended up on a coalition course
with Cristina Fernández de Kirchner (who was Argentina
President 2007 to 2015). Pichetto comes from the
Peronist faction that does not belong to the Kirchner
camp.
May
Protest against the savings policy
30 May
Large parts of Argentina remain silent during a
nationwide 24-hour strike in protest of President
Macri's austerity policy. The tough savings policy is a
way for the government to keep inflation down, but
prices have nevertheless risen by 55 percent over the
past year, which is hitting the population hard. Many
public servants have also resigned, while a number of
government subsidies have been reduced. which has led to
higher prices for things like transport, electricity and
water.
Thousands demand free abortion
May 29th
Thousands of people gather outside the congress
building in Buenos Aires to demand that the country's
harsh abortion legislation be liberalized. This is being
done at the same time as a new proposal is being
submitted for abortion to be legalized until the 14th
week of pregnancy. A similar was approved by the Chamber
of Deputies in 2018, but was voted down in the Senate.
According to the Argentine Ministry of Health, 350,000
illegal abortions are carried out per year in Argentina,
but women's groups claim that the number is
significantly higher. Since congressional elections are
held this autumn in Argentina, little will happen in the
matter until the end of the year.
Ex-president intends to run for vice president
May 19th
Former President Cristina Fernández de Kirchner says
she intends to stand as a candidate for the vice
presidential post in the fall elections in Argentina.
The message came via a movie feature on social media.
Until now, many have thought that the ex-president would
run in the presidential election, but she has instead
asked her former cabinet chief (in practice government)
Alberto Fernández to take part in the presidential
election. Fernandez, who is considered to be a moderate
political figure, later says he will run for office.
Fernandez de Kirchner's message comes three days before
she is due to appear in court on charges of corruption.
This time, it's all about a bargain contract that went
to a business friend of hers in Santa Cruz Province.
Peronist wins governor election in Cordoba
May 13th
The election of the governor of Cordoba Province
leads to the re-election of Juan Schiaretti of the
Peronist Party with clear numbers. However, candidates
from the parties within the government alliance
Cambiemos make a poor choice and receive at most just
under 18 percent of the vote.
Congressman shot to death in Buenos Aires
May 10
Héctor Olivares, who is sitting in the House of
Representatives of the Radical Party, is severely shot
near the congress building in Buenos Aires. He later
dies in hospital. One of his advisers Miguel Yadón is
also killed in the attack. Olivares, whose party is part
of the governing alliance Cambiemos, has been working on
a new bill to curb the football violence in Argentina.
Several people are arrested after the act. Argentine
media suggests that the act was not political but had
personal motives and was primarily directed at Yadón.
April
Macri introduces price halt for basic goods
April 17
President Mauricio Macri faces a price halt on
several basic commodities and transport, gas and
electricity in an effort to curb the high rate of
inflation. Inflation has risen by 55 percent since April
2018. The price hike for 60 basic commodities, including
meat, will be valid for six months, but when it comes to
public service, it will apply for the rest of the year.
Thousands in protest against austerity policy
April 4th
Thousands of protesters gather in Buenos Aires to
protest the government's austerity policy and to show
opposition to Macri being re-elected as president in the
fall election. This happens after a period in which
dissatisfaction with the president has led to several
street protests. The austerity policy is noticeable to
ordinary Argentinians, according to new statistics,
almost every third inhabitant lives below the poverty
line, homelessness has increased and many find it
difficult to pay rising costs for electricity and gas as
well as bus and train tickets. The crisis has also hit
hard on SMEs. Today's demonstration has been organized
by the trade union movement CGT. Macri has already
announced that he intends to run for re-election.
March
A new regional forum is formed
March 22
During a meeting in Santiago, eight South American
presidents launch the new Regional Forum for the
Progress of South America (Prosur), which is intended to
replace Unasur - a regional body that has effectively
ceased to function. Prosecur will mainly support
democracy and the market economy, it says. The
initiative has been taken by Chile's President Sebastián
Piñera and Colombia's Iván Duque, and the other
participating countries are Argentina, Brazil, Ecuador,
Guyana, Paraguay and Peru. Representatives of the
left-wing governments in Bolivia, Surinam and Uruguay
attend the meeting, but those countries do not join
Prosur. Venezuela was not invited.
New legal process against ex-president
March 18th
Another legal process is being launched against
former President Cristina Fernández de Kirchner. This
time it is about illegal import of liquefied gas. While
there are now ten legal proceedings against the
ex-president, she seems set to stand in the presidential
election this fall, where she looks to be President
Mauricio Macri's main challenger.
February
Several are convicted of darkening terrorist acts in
1994
March 28
A court acquits former President Carlos Menem of
charges of blackout over a terrorist attack on a Jewish
center in Buenos Aires in 1994. But Juan Jose Galeano,
the judge who led the investigation of the act, is
sentenced to six years in prison for 6 years for
embezzlement and detention evidence. The former head of
Argentina's intelligence service, Hugo Anzorreguy, is
sentenced to four and a half years in prison for
obstructing the investigation. The car dealer who sold
the car where the bomb was carried is sentenced to
prison. In addition to Menem, several other persons are
acquitted. No one has been convicted of the deed that
claimed 85 lives.
Tens of thousands in protest against economic
austerity
February 14th
Tens of thousands of people gather in Buenos Aires to
protest against austerity policies, rising unemployment
and large price increases, including, for example,
electricity, water and heat. Similar protests are being
held in a number of other Argentine cities. In 2018, the
consumer price index rose by almost 48 percent, partly
due to the low value of the Argentine peso. That is the
highest figure in 27 years.
January
Tens of thousands in protest against government
austerity
January 10
Tens of thousands of Argentines gather in Buenos
Aires in the first of a series of planned protests
against the government's austerity policy. Similar
protests will be held on Thursdays for the rest of the
month, the manifestations being organized by two
factions of Argentina's second largest trade union CTA.
In order to get rid of the country's large deficit in
the state budget, the government has reduced subsidies
for so-called public utility services, which among other
things caused electricity and gas prices to multiply
since President Macri came to power. Despite this, Macri
plans even tougher austerity measures in 2019, despite
presidential elections being held this fall, including
the electricity tariffs on average 55 percent until
August, and gas fees by 35 percent. In addition, bus,
train and metro tickets will be increased by 38 percent
in January. Tax increases are expected to push up
already high inflation. In connection with the
announcement of energy price increases at the end of
2018, Energy Minister Javier Iguacel resigned, but he
gave no explanation for the decision. One bright point
for the government is that tax revenue increased by over
30 percent in 2018. Macri's voter support has fallen
from 66 percent in the fall of 2017 to below 30 percent
today.
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