Argentine government takes fire for flailing economy

Global Business

Argentine government takes fire for flailing economy

A fanfare greeted Argentina’s return to the global financial markets last week, after a 15 year absence.

But, on the home front, the new government faces challenges in combating inflation and avoiding further job losses. On Friday the powerful trade unions marched and promised further action if the government does not negotiate with them.

CCTV America’s Joel Richards reports.

Argentine government takes fire for flailing economy

Argentine government takes fire for flailing economy

A fanfare greeted Argentina’s return to the global financial markets last week, after a 15 year absence. But, on the home front, the new government faces challenges in combating inflation and avoiding further job losses. On Friday the powerful trade unions marched and promised further action if the government does not negotiate with them. CCTV America’s Joel Richards reports.

A carnival atmosphere at this march called to not only celebrate International Workers Day, but to voice the concerns of government policies for the Argentina’s labor force during the country’s recent economic shift.

Unions said they expected more than 300,000 workers to march across the country. In Buenos Aires, five trade unions that have historically been at odds put their differences aside to protest government economic policies.

The prime concern for Argentina is still inflation, which, according to the Central Bank, is likely to end the year at over 33 percent. Failure to control inflation and curb further job cuts with legislation, or through other new initiatives, will no doubt lead to more unrest in coming months.