’A new form of colonization’: Argentinian workers confront the IMF

The International Monetary Fund (IMF) and World Bank have a long history of plunging Global South nations into unsustainable cycles of debt. For Argentina, this process has been ongoing for decades, and is now reaching a breaking point. Since 2015, the Argentine peso has lost 80% of its value against the US dollar, leading to a cost of living crisis affecting a wide swath of society. The economic shock of the pandemic and the latest $44 billion IMF loan package delivered in 2022 have only made matters worse. In the second half of 2020, more than 40% of Argentinians were in poverty. The Real News reports from Buenos Aires as labor unions and other workers’ organizations fight for better wages, working conditions, and an end to austerity. Producer: Martin Varese, Leonardo Erhardt Videographer: Fernanda Perez Copy editor: Alexander Morris Editor: Leonardo Erhardt The Real News is an independent, viewer-supported, radical media network. Help us expand our in-depth analysis and coverage from Baltimore to Bangladesh by subscribing and becoming a member today! Donate: Sign up for our newsletter: Like us on Facebook: Follow us on Twitter: