Argentine Capital Paralyzed By Rallies Over Austerity, Hike In Utilities Prices - Reports

Thousands of people took to the streets of Buenos Aires on Wednesday, blocking several major highways, to oppose austerity measures and the growing prices on utilities, local media reported

MEXICO CITY (UrduPoint News / Sputnik - 13th February, 2019) Thousands of people took to the streets of Buenos Aires on Wednesday, blocking several major highways, to oppose austerity measures and the growing prices on utilities, local media reported.

A number of social movements organized the rallies, which initially started in different parts of the capital and then moved to the center of Buenos Aires, where a demonstration is currently taking place, the Nacion newspaper reported.

The prices on utilities have risen dramatically as the Argentine government had to cut spending under the agreement with the International Monetary Fund on clearing the country's fiscal deficit, according to media reports.

The Latin American country was hit with economic and financial crisis in 2017, with inflation reaching almost 50 percent by the end of 2018, a record high in 27 years, media said.