The International Monetary Fund (IMF) and World Bank have a long history of plunging Global South nations into unsustainable cycles of debt. For Argentina, this process has been ongoing for decades, and is now reaching a breaking point. Since 2015, the Argentine peso has lost 80% of its value against the US dollar, leading to a cost of living crisis affecting a wide swath of society. The economic shock of the pandemic and the latest $44 billion IMF loan package delivered in 2022 have only made matters worse. In the second half of 2020, more than 40% of Argentinians were in poverty. The Real News reports from Buenos Aires as labor unions and other workers’ organizations fight for better wages, working conditions, and an end to austerity.
Producer: Martin Varese, Leonardo Erhardt
Videographer: Fernanda Perez
Copy editor: Alexander Morris
Editor: Leonardo Erhardt
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