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🗓️ 21 December 2023
⏱️ 7 minutes
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From the BBC World Service: Residents of Argentina’s capital Buenos Aires are pushing back on the plans of the recently-elected President Javier Milei. And in Turkey, people are facing dual pressures of high inflation and interest rates. Plus, why are standing ovations becoming more common in British theaters?
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0:00.0 | Not everyone is happy with Malay's economic medicine. |
0:04.4 | Hello, you're listening to the Marketplace Morning Report live from the BBC World Service. |
0:08.8 | I'm Niana Byrne and a very good morning to you. |
0:11.6 | Argentina's economic shock therapy has triggered protests in the capital Buenos Aires. |
0:20.0 | Thousands of people have taken to the streets in a march led by groups that represent |
0:26.7 | unemployed workers the country's new Libertarian President Javier Mille was elected |
0:30.8 | with a radical agenda to overhaul the economy, which is crippled by hyper-inflation. |
0:36.0 | He set out some of those plans in a televised address yesterday. |
0:39.9 | The goal is to start the |
0:45.0 | is to start the path to rebuilding our country, |
0:47.0 | restore freedom and autonomy to individuals, |
0:50.0 | and begin dismantling the vast array of regulations that have hindered and stalled economic |
0:54.9 | growth in our country. |
0:56.5 | The BBC's Ali McConnell has been following the developments. |
0:59.6 | Mr Malay gave details of some of the 300 new measures marking what he called only a first step towards |
1:05.5 | reconstruction. They include privatizing state companies and deregulating mining and other industries. The President said he would cancel the law regulating property |
1:15.8 | rent. Argentina's National Congress will begin work in the coming days to approve the measures. |
1:21.8 | Last week the new government devalued the Argentine |
1:24.2 | peso by over 50% and sharply reduced fuel subsidies. |
1:28.1 | Ali McConnell reporting another country that's been struggling with inflation is |
1:32.3 | Turkey even though it's cooled down a bit, |
1:34.0 | it's still sitting at 60%. And today the Central Bank is expected to hike interest rates for the seventh straight time. |
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