Argentina is bracing for a general strike that will see disruptions to services across the country. It comes a day after thousands turned out to protest against the government's plan to impose austerity, in exchange for another IMF loan.
Protesters in Buenos Aires have clashed with police in front of Congress to protest cuts to the 2019 budget bill. Argentina's President Mauricio Macri needs those cuts as he has committed to balancing the budget.
Pakistani shares have rallied after news that Islamabad's staunch ally, Saudi Arabia, had offered a huge rescue package for the economy. The shot in the arm comes as Pakistan faces a huge lack of currency reserves.
A federal judge will decide if President Macri's administration had the authority to request the IMF loan. Argentina has been plagued by economic instability that threatens to spill over into the political arena.
President Mauricio Macri said his country is facing "an emergency" that required massive spendings cuts and agricultural taxes. This year, Argentina's currency has already lost half its value compared to the US dollar.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version