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Weekly Report - 05 May 2016 (WR-16-17)

Argentina’s Macri in race against time

Argentina’s President Mauricio Macri had it all carefully planned out. Implement all the economic shocks well within the first six months of his term in office, which began last December, and wait for the economy to pick up and inflation to come down in the second half of 2016. Events of the last week show that neither the political opposition nor the country’s powerful trade union movement is prepared to give him the time he needs. This leaves Macri trying to stave off efforts by the main opposition Partido Justicialista (PJ, Peronists) to push through the federal congress a bill to prevent public and private sector dismissals, as well as maintaining a wedge between the five main trade unions mooting unification. Failure on either front would provide a serious setback for his government.

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