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| Tuesday, 21 May, 2002, 02:55 GMT 03:55 UK Protests sweep Argentina Argentina has been rocked by protests for months Tens of thousands of people have taken to the streets across Argentina demanding food, jobs and a change in the government's economic policies. Poor and unemployed Argentines demanded the free distribution of food and medicines to people who can no longer afford them and government action against rising unemployment. The protests - just a day before a planned general strike called by the country's main trade union - came as the unemployment rate hit 20% and the Argentine peso continued to decline against the dollar.
Wednesday's stoppage will be the first industrial action since President Eduardo Duhalde took office in January. The BBC's Lourdes Heredia in the capital Buenos Aires says that with rising poverty and little prospect of an end to the four-year economic crisis, the people of Argentina are desperate for change. In the capital Buenos Aires, at least 10,000 demonstrators packed the streets, while several hundred protesters reportedly blocked entry points into the city. Similar protests were reported to have taken place in the provinces of Chubut, Mendoza, San Juan, Santa Fe, Tucman, and Salta. Banks taken over President Duhalde is also facing a deepening crisis in the banking system. The state-owned Banco de la Nacion has taken over three troubled banks, after their French owner refused to prop them up with more capital. As Argentina continues to look for a way out of its economic turmoil, Finance Minister Ricardo Lavagna is due to meet officials from the International Monetary Fund and World Bank on Tuesday. Argentina is hoping to regain access to much-needed loans suspended by the IMF in December 2001 after it failed to meet budget-cutting targets. The IMF has insisted Argentina's provinces slash their deficits by about 3bn pesos ($585m) from 2001 levels before it releases $22bn in financial aid. |
See also: 16 May 02 | Business 14 May 02 | Business 06 May 02 | Business 29 Apr 02 | Business 22 Apr 02 | Business 22 Apr 02 | Business 18 Apr 02 | Business Internet links: The BBC is not responsible for the content of external internet sites Top Americas stories now: Links to more Americas stories are at the foot of the page. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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