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situation report

Nov 8, 2018 | 20:53 GMT

1 min read

Argentina: Government to Complicate Private Sector Firings

What Happened: The Argentine government under President Mauricio Macri will publish a decree that effectively prohibits private sector firings, Ambito Financiero reported Nov. 8.

Why It Matters: While this measure goes against Macri's economic reforms aimed at facilitating investment, it showcases Macri's difficult electoral situation as he requires support from the CGT, one of the country's main labor unions.

Background: Macri faces a challenging re-election campaign in 2019. After more than two years of utility hikes, austerity, rapid currency depreciation and trade liberalization, he currently has a 35 percent approval rating, which will likely be enough to win the first round of next year's election but could spell defeat in a runoff.

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