The impact of foreign debt and harsh austerity on Argentina's social protection system
The impact of foreign debt and harsh austerity on Argentina's social protection system
Argentina’s recent economic policies, driven by IMF debt repayment and fiscal austerity, have led to a significant deterioration in social protection systems and living conditions. Pension reforms have reduced retirees' purchasing power, while widespread dismantling of care policies has disproportionately affected women and LGBTIQ+ individuals. A severe food crisis has emerged, with over half of households with children reducing essential food purchases. Consequently, poverty rates have surged from 41.7% to 52.9% in early 2024, affecting over 15 million people. These changes, reflecting a shift towards minimal state intervention in social welfare, have exacerbated existing inequalities and created new vulnerabilities, particularly impacting informal workers, women, and children.