Thousands of teachers and government workers have taken to the streets of Argentina’s capital, Buenos Aires, calling for a pay rise.
Members of the Argentine Workers Federation, the South American country’s largest trade union, marched on Wednesday outside the Casa Rosada Government House at Plaza de Mayo square in central Buenos Aires.
The protesters urged the government to double the minimum wage in the face of rising inflation and currency devaluation.
Union chief Pablo Micheli said the government workers were seeking a minimum wage of 9,000 pesos (USD 1,150), more than twice the current minimum of 3,600 Pesos (USD 457) a month.
Trade unions have invited the government of President Cristina Fernandez de Kirchner to talks over the diminishing purchasing power.
Argentina recorded an 11 percent inflation rate in 2013, but independent economists say the actual rate is more than 30 percent.
In August last year, thousands of Argentines held an anti-government demonstration in the capital to show their anger against rising inflation and corruption.
RELATED ARTICLES
- Milei's Argentina Seems to Slowly Recover from Economic Disaster but its too Soon to Tell Yet
- Poverty in Argentina soars to record high despite Milei's Shock Therapy
- Argentina Paralyzed By Strikes as Thousands Protest Milei's Shock Therapy
- IMF Praises Argentina Milei government, Issues bailout hoping to Help Save their Economy
- IMF Praises Argentina's Economic Reforms as 'Bold, Should Help Private Sector Growth'
Loading ...
Once again, the Argentine government made the mistake of printing too much paper money, causing increased inflation which causes increased wage demands.
Have they learned nothing about fiat currency from the Weimar Republic and printing too much paper money for war reparations, causing hyperinflation?
National leaders should have learned long ago that they cannot keep printing paper money to cover their debts, but must strive to live within their tax revenues and stop borrowing from foreign lenders.
When too much currency is printed, it is the same as stealing the savings of their people – the purchasing power is diluted by all the new currency and rising prices caused by currency excess. Government officials who deliberately devalue the currency should be charged with the crime of embezzlement.