Economy Minister Sergio Massa has announced he will convene businesspeople and union leaders to draw up a “stability plan” for the next 90 days, during a meeting with members of social organizations and unions. The objective is a price and salary agreement that provides some certainty in a context of annual inflation above 100%. According to a spokesperson in the Economy Ministry, “from Saturday, the Minister will call businessmen, trade unionists and social movements to work together on the basis of the economic order”. Regarding this week’s run on the peso, which led to the informal dollar peaking at just below AR$500, Massa said some people tried to “cheat” over “rumors” and generated uncertainty. Héctor Daer, the General Confederation of Labor’s (CGT) joint secretary general, said the CGT would help the government with “support and trust,” and that they wouldn’t join the “speculators in the financial market that harm everyone’s economy”.

Source: Bueno Aires Herald April 27, 2023 13:23 UTC