Argentines head to the polls amid soaring inflation & poverty | DW News


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Argentines head to the polls amid soaring inflation & poverty | DW News



Unemployment, inflation and the handling of the pandemic are fueling anger among Argentines as they head to the polls for midterm elections.
President Alberto Fernandez and his Peronist party are in danger of losing control of Congress, which would make governing in the second half of his term even harder. His first two years saw the economy contract, with the jobless rate hitting double digits and inflation spiraling out of control. More than half of the country’s children now live in poverty.
Groceries have become a big expense for many Argentines. Rising prices mean a trip to the supermarket is taking bigger and bigger chunks out of their pay checks.
Inflation broke 50 percent this year and is one of the highest in the world. Prices for daily items have gotten so bad that the government put a 90-day price freeze on 1,400 products, including food and hygienic items.
Unions have taken to the streets in recent weeks. Not only are they demanding better jobs with a wage that keeps pace with inflation, but many are angry that the government is prioritizing international debt reduction, instead of raising the minimum wage.
The once rich country remains in a severe economic and financial crisis. Analysts point to the bloated state apparatus, low productivity, and a large shadow economy. Meanwhile the peso is sinking and the mountain of debt is growing. Sunday’s elections will show whether voters choose to empower or disempower their president’s economic policies.

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#Argentina #Inflation #Election

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30 Comments

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  1. If Argentina transfers their finances into bitcoin their inflation problem will go away. The quicker they do it the sooner the problem will be solved. Or Argentinians individually can buy as much btc as they can so they don't lose their fiat values, the best hedge against inflation.

  2. **Jesus Christ is the Way, the Truth, the Life. No one comes to the Father except through Him. There is no other intermediary. May Jesus Bless you, trust Him, give your life – and He will take care of it :pray Convert yourself and believe in the Gospel – Romans 10 8-10 But what does it say? “The word is near you; it is in your mouth and in your heart,” that is, the message concerning faith that we proclaim: 9 If you declare with your mouth, “Jesus is Lord,” and believe in your heart that God raised him from the dead, you will be saved. 10 For it is with your heart that you believe and are justified, and it is with your mouth that you profess your faith and are saved.♡.*<3

  3. US is pushing Global Inflation with Bidens excessive Stimulus. Germans and others are suffering because of Bidens Stimulus Policy. He's trying to push another 4 Trillion Dollars of Stimulus. Get ready for more Plan a Food Garden for next summer if you can. There's nothing to indicate this will end soon because the US is the Reserve Currency still. Middle Class Americans are getting hit hard. Employment is high because many need two jobs to pay bills.
    Systems instability is rising, Institutions are Failing, it's not 1950 anymore but may soon look like 1920s if we don't halt Inflation.
    Best Wishes to all.

  4. RELAX people ….the inflation is worldwide because the covid pandemic has stifled the shipping and transport of goods worldwide. Most the cheap goods coming out of china and south east asia have not been getting to their respective countries so the prices have gone up due to lack of supply. This will ease once the pandemic slows due to vaccination rates !!! and the international shipping gets back to normal !!!