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Argentina Passes Controversial Economic Reform

Argentina passed a controversial pension reform law that led to violent protests in Buenos Aires with over 160 people injured, including clashes where rioters threw rocks and Molotov cocktails at police who responded with rubber bullets and tear gas. The new law changes pension payments to four times a year based primarily on falling inflation rates rather than wages as the previous system had done, which critics argue will reduce retiree incomes despite their contributions over many working years.

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Khanal Nilambar
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43 views3 pages

Argentina Passes Controversial Economic Reform

Argentina passed a controversial pension reform law that led to violent protests in Buenos Aires with over 160 people injured, including clashes where rioters threw rocks and Molotov cocktails at police who responded with rubber bullets and tear gas. The new law changes pension payments to four times a year based primarily on falling inflation rates rather than wages as the previous system had done, which critics argue will reduce retiree incomes despite their contributions over many working years.

Uploaded by

Khanal Nilambar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Argentina passes controversial economic

reform
• A major pension reform became law in Argentina early Tuesday morning
after violent protests rocked the nation's capital, Buenos Aires, on
Monday.

• Rioters threw rocks and Molotov cocktails while police fought back with
rubber bullets and tear gas Monday afternoon.

• More than 160 were injured, including 88 police officers and 74


protesters, according to state-run news agency Team.

• The new law revises the size of the payment four times a year instead of
twice a year, the way it did under the old system.
• The new formula also bases payments mostly on inflation, which is falling.

• The previous law calculated payments based on wages and social security
contributions.

• Critics argue it will hurt retirees, who paid into the system for much of
their working lives, by reducing their income.

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