Argentines take to the streets against the country’s economic situation

Groups demonstrate this Thursday (July 14) against Fernández’s government; country faces high inflation

Thousands of people took to the streets of Argentina this Thursday (14.Jul.2022) to protest against the government of President Alberto Fernández and the worsening economic situation in the country.

Protesters gathered in the streets of Buenos Aires, starting a march on the Obelisk and heading to Plaza de Mayo, near the Ministry of Economy headquarters. Protesters are calling for new economy minister Silvina Batakis for more government aid to tackle rising inflation.

Argentina’s inflation accelerated in June and reached 64% in the 12-month period. The Indec (National Institute of Statistics and Censuses) released the data this Thursday (14.Jul). The protests began even before the June figures were released.

Batakis took over the ministry on July 4 from Martín Guzmán, who had been in office since December 2019. When he announced his departure, he said he had “deep conviction and confidence” in its more moderate economic view.

The new minister takes office at a time of tension in Argentina. Last week, the dollar reached record values ​​and there were protests by truck drivers over the lack of diesel in the country.

On Wednesday (June 13), agricultural producers held a strike against the lack of diesel and policies for rural areas. The protests affected the distribution of grain and livestock in 12 cities across the country.

UNDERSTAND

Argentina faces fuel shortages and rising prices. Argentina’s inflation rose 5.3% in June. As a result, the country’s price index was 64% in the 12-month period.

As far as fuel is concerned, diesel is in short supply in Argentina. As a result, the government also raised prices. The scenario also affects Argentine supply chains.

In June, for example, lemon growers in the Bella Vista region, in the Argentine province of Corrientes, in the northeast of the country – on the border with Rio Grande do Sul –, faced problems in shipping the harvest.

The diesel shortage in the country and the impacts of the war in Ukraine on the local economy have affected demand, raised the cost of freight and created a “distressing scenario”, according to them. Truck drivers also have difficulties finding fuel and have protested in recent weeks, which also affects harvesting and marketing of agricultural production in Argentina.

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