All articles tagged with #austerity measures
Originally Published 3 months ago — by AP News
Thousands of Slovaks protested across the country against Prime Minister Robert Fico's government, criticizing austerity measures and his pro-Russian stance, especially after his recent meetings with Putin and China, reflecting widespread dissatisfaction with his policies and leadership.
Originally Published 4 months ago — by The New York Times
France faced nationwide protests and disruptions as protesters blocked key infrastructure to oppose austerity measures and express frustration with President Macron's government, which recently appointed Sébastien Lecornu as prime minister amid political volatility and public unrest.
Originally Published 4 months ago — by Euronews.com
French police arrested nearly 200 protesters during widespread 'Block Everything' demonstrations across France, which paralyzed transport and daily life in response to austerity measures and political dissatisfaction following the collapse of the government. The protests, driven by anger over economic policies and perceived political neglect, involved fires, barricades, and clashes with police, with significant public support and calls for political change.
Originally Published 1 year ago — by Al Jazeera English
Sri Lanka's leftist ruling coalition, led by President Anura Kumara Dissanayake, has won a landslide victory in snap parliamentary elections, securing a commanding majority with 62% of the vote. The National People's Power (NPP) party, which previously held only three seats, is set to gain 141 seats in the 225-member parliament. This victory provides Dissanayake a strong mandate to ease austerity measures imposed by the previous government as part of an IMF bailout. The election saw a 65% voter turnout, lower than the previous presidential election.
Originally Published 1 year ago — by The Associated Press
Argentines are feeling the impact of President Milei's austerity and deregulation measures, with many struggling to make ends meet due to soaring inflation and reduced subsidies. Despite widespread economic hardship, support for Milei remains high, with 43% approval overall and 75% among his voters. While some believe his measures will improve the country's economic situation, others, like small business owners and low-income individuals, are facing dire circumstances, with some resorting to drastic measures to survive.
Originally Published 1 year ago — by The Associated Press
Argentina's inflation slowed to 13.2% in February, marking a second consecutive monthly decrease, but remains at a three-decade high on a yearly basis. President Javier Milei's austerity and deregulation measures, including a 50% currency devaluation and subsidy eliminations, aim to combat hyperinflation and revive the struggling economy, despite warnings of initial negative impacts on employment and poverty levels.
Originally Published 1 year ago — by Reuters Canada
Argentina's monthly inflation rate slowed to 13.2% in February, a boost for President Javier Milei, who is implementing tough austerity measures to combat the world's highest inflation. Despite the improvement, the 12-month inflation rate rose to 276.2%, exacerbating poverty and impacting people's spending power. Milei's government aims to demonstrate the effectiveness of its economic plan to maintain public support and prevent unrest, as the country grapples with soaring prices and increasing poverty levels.
Originally Published 1 year ago — by FRANCE 24 English
Thousands of people protested across Argentina demanding food aid for the poor as the country grapples with soaring inflation and President Javier Milei's austerity measures, which have led to a freeze in crucial aid to soup kitchens. Milei's government has slashed public spending, devalued the peso, and received praise from the International Monetary Fund for its efforts to restore macroeconomic stability, but social tensions are rising as inflation remains high and essential aid is cut off. The US Secretary of State expressed support for Argentina's efforts to stabilize its economy during a meeting with President Milei.
Originally Published 1 year ago — by NBC News
Cubans are bracing for upcoming price hikes and austerity measures as the government plans to raise gas prices, cut subsidies, and increase taxes on the private sector in an attempt to curb the country's deficit and lower inflation. The measures have caused anxiety and concern among the population, with worries about the impact on food prices and purchasing power. The government has delayed the gas price hike due to a cybersecurity incident and has increased salaries for those in the health and education sectors, but economists and residents remain skeptical about the effectiveness of the measures and their impact on daily life in Cuba's fragile economy.
Originally Published 1 year ago — by DW (English)
The IMF has approved the disbursement of $4.7 billion to Argentina as part of a $44 billion program, supporting President Javier Milei's government in implementing austerity measures to stabilize the country's economy. IMF chief Kristalina Georgieva praised the government's bold actions while acknowledging the challenges inherited from the previous administration. The approval coincided with Argentina's lower house of Congress beginning a debate on Milei's mega-bill for economic and political reforms. The IMF also extended the program through 2024, with revised GDP forecasts reflecting the expected impact of the government's proposed reforms.
Originally Published 1 year ago — by CNN
Argentine labor unions initiated a nationwide general strike against President Javier Milei's austerity policies and deregulation efforts, leading to transport disruptions and protests in Buenos Aires. The strike opposes Milei's public spending cuts and deregulation program, with the General Confederation of Labor and social movements leading the opposition. Milei, a self-declared "anarcho-capitalist," aims to tackle hyperinflation and overhaul the country's economy, but his measures have sparked widespread discontent and demonstrations.
Originally Published 2 years ago — by NBC News
Argentina's annual inflation rate has surged past 211% in December, reaching its highest level since the early 1990s, as new President Javier Milei aims to tackle hyperinflation with tough austerity measures. The monthly inflation rate hit 25.5%, slightly below forecasts, following a sharp devaluation of the peso currency. Many Argentines are feeling the impact, with retirees and citizens already in poverty struggling to afford basic necessities as prices soar. Milei has warned that it will take time to address the situation, and the country may face further challenges before improvement.
Originally Published 2 years ago — by Reuters Canada
Argentina's annual inflation rate surged past 211% in December, hitting the highest level since the early 1990s, as new President Javier Milei aims to tackle hyperinflation with tough austerity measures. The monthly inflation rate reached 25.5%, slightly below forecasts, following a sharp devaluation of the peso. Many Argentines are feeling the impact, with retirees and citizens struggling to afford basic necessities as prices soar, leading to increased poverty levels. Milei has warned that the situation may worsen before it improves, as the country grapples with a deep fiscal deficit and strives to rebuild government finances.
Originally Published 2 years ago — by Art Newspaper
Argentina's new president, Javier Milei, wasted no time in fulfilling his campaign promise of slashing government spending by abolishing the Ministry of Culture and the Ministry of Women, Gender and Diversity. Several other ministries were downsized and recombined into new entities. Milei, a self-described "anarcho-capitalist," also implemented subsidy cuts and cancelled public projects to address the country's economic crisis. His actions are seen as a means of wielding control and promoting ultra-right views, with a history of attacking political rivals and disparaging the arts, humanities, and human rights.
Originally Published 2 years ago — by Al Jazeera English
Argentina's new far-right president, Javier Milei, has announced a shock therapy approach to fix the country's economic crisis, including devaluing the peso by over 50% against the US dollar, cutting subsidies, canceling public works tenders, and reducing government ministries. The government plans to double social spending for the poorest to help them cope with the economic shock. While the International Monetary Fund supports the measures, progressive activists criticize the austerity measures, warning of social unrest. Milei argues that harsh austerity is necessary to tackle the fiscal deficit and put Argentina on the path to prosperity, but faces opposition from left-leaning lawmakers and unions.