Protesters rally in Buenos Aires over household debt levels

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Thousands of protesters, supported by trade union confederations CGT and CTA and left-wing parties, gathered at Plaza de Mayo in Buenos Aires on Thursday to demand relief from record-high household debt. Data from the Central Bank indicated that 5.8 million Argentines, or 12.5 percent of the population, were behind on loan payments, the highest level recorded since the 2001 crisis. Demonstrators cited the deregulation of interest rates and President Javier Milei’s austerity policies as the drivers forcing families to borrow money for basic needs like food and rent. Protesters specifically called for state intervention to restructure debt and regulate interest rates, while President Milei maintained that debt remained a private matter outside the scope of state involvement.

Consequences

The government faces continued pressure from organized labor and opposition parties to shift its stance on non-intervention in private financial matters. As the Ministry of Economy remains under heavy police protection, the divide between the administration’s market-oriented policies and the demands for state-managed debt relief appears set to persist.

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