Argentines worry as new government set budget cuts

Описание: (14 Dec 2023)

FOR CLEAN VERSION SEE STORY NUMBER: 4468491

RESTRICTION SUMMARY:
ASSOCIATED PRESS
Buenos Aires, Argentina - 13 December 2023
1. Various of people getting on bus

HEADLINE: Argentines worry as new government sets budget cuts

2. Currency exchange booth
3. Sign showing exchange rate

ANNOTATION: Argentina’s new government has announced cuts to energy, transportation subsidies and devalued the peso to deal with an economic emergency.

4. Various of streets
ANNOTATION: President Javier Milei, who took the office on Sunday, said the country didn't have time to consider other alternatives.

5. SOUNDBITE (Spanish) Victor (no surname given), building painter:
"He lied and said that he was going adjust the politicians themselves, that he was going to take away their privileges, everything he said. He lied and lied. At the end of the day, guess who will be paying? The people."

6. Garbage recycler Vicente Bustamante going to work with his cart
7. People eating

ANNOTATION: Argentina is suffering 143% annual inflation, its currency has plunged and four in 10 Argentines are impoverished.

8. SOUNDBITE (Spanish) Vicente Bustamante, garbage recycler:
“If they take away my subsidy, I don't know what I will do. I'm going to be another one on the streets. I say I will end up sleeping on the sidewalk again."

9. Various of people getting off train

ANNOTATION: The government said the measures were necessary to cut the fiscal deficit, which is believed to be the cause of the country's economic problems.
STORYLINE:
Argentina’s new government has announced cuts to energy and transportation subsidies and devalued the peso to deal with an economic emergency.

Economy Minister Luis Caputo said in a televised message the Argentine peso will be devalued by 50% to 800 to the U.S. dollar from 400 pesos to the dollar.

President Javier Milei, who took the office on Sunday, said the country didn't have time to consider other alternatives.

Argentina is suffering 143% annual inflation, its currency has plunged and four in 10 Argentines are impoverished.

The government said the measures were necessary to cut the fiscal deficit, which is believed to be the cause of the country's economic problems.

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