Argentina went on a national strike on Tuesday, after the country’s largest union, the General Confederation of Labor (CGT), called for a 24-hour halt in several activities, including at airports, banks, ports and subways. The strike was the seond so far this year, after a similar demonstration in June.
Demonstrators asked the local government to compensate for increasing inflation, which should reach over 40 percent this year. The Argentinian peso (ARS) has declined as well when compared to the USD. Argentinian president Mauricio Macri is renegotiating a $50 billion standby deal with the International Monetary Fund (IMF) signed in June to aid the struggling country.
Argentina’s Treasury Ministry estimated about $800 million in losses due to the strike.