Argentina offers financial aid to crisis-hit workers and pensioners
By Eliana Raszewski
BUENOS AIRES (Reuters) — Argentina's economy ministry on Sunday announced a series of benefits for workers and pensioners intended to soften the blow of a severe economic crisis which has seen inflation spiral and the government devalue the country's currency.
The government will give nearly 7.5 million pensioners a package of 37,000 pesos (around $105 at the current official exchange rate) over the next three months, Economy Minister Sergio Massa said in part of a series of messages on his Instagram account.
Massa, who is also the ruling party's presidential candidate for the Oct. 22 elections, will face ultra-libertarian outsider Javier Milei whose support from disillusioned voters have propelled him to victory in a primary vote this month.
Massa said workers will receive 400 billion pesos in loans, while self-employed workers will be offered six months of tax relief and those on food benefits will receive additional stipends.
He also announced a suspension of export taxes for some industrialized regional goods such as wine, rice and tobacco, as well as funding for fertilizers to help farmers whose last harvest suffered from a historic drought.
«The goal is that every economic sector receives some state support,» Massa said.
The move comes two weeks after the government devalued the peso by nearly 20%, accelerating annual inflation which already was hovering around 115% as Argentines saw their purchasing power dwindle yet further.
Massa said the devaluation resulted from a request from the International Monetary Fund as it renegotiates a $44 billion loan program with the South American government.
Polls for the October elections have narrowed giving an equal share of the vote to each Massa,
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