Sectoral wage negotiations are in full swing in Argentina, against an economic backdrop that is as uncertain as it is tough. These are the first such talks to take place since the centre-left government of Alberto Fernández came to power in December. Wage increases in fixed tranches appear to be the approach being favoured, for example by the commerce sector trade union, so as to avoid feeding into the inflation outlook while reinvigorating the purchasing power of the lowest paid. Although the restoration of purchasing power was one of the president’s campaign promises, the crisis makes systematic adjustments based on inflation difficult. Meanwhile the economic and financial consequences of the coronavirus outbreak complicates matters further.
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