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ARGENTINA’S CHILD POVERTY RATE ON TRACK TO HIT 70%, UNICEF WARNS

Peoria, IL, USA 1470 & 100.3 WMBD
Thomson Reuters
Mar 12, 2024 | 1:31 PM


By Lucila Sigal

BUENOS AIRES (Reuters) – Argentina’s child poverty rate could hit 70% in the
first quarter of the year unless there is a change in course, UNICEF warned in a
report on Tuesday, reflecting how high inflation, weakening growth and austerity
is hitting the country hard.

In a report, the UN Children’s Fund said the poverty rate was rising fast from
57% at the end of last year. Those in extreme poverty could reach 34% up from
19.4%, the agency added, calling for more spending to protect the livelihood of
children.

“If current trends continue, the prevalence of poverty in children and
adolescents in the first quarter of 2024 would reach values around 70%,” said
Sebastian Waisgrais, UNICEF Social Inclusion and Monitoring Specialist.

“That would have repercussions on their current and long-term well-being.”

Argentina’s new right-wing libertarian President Javier Milei has been pushing
austerity measures to overturn a deep fiscal deficit, rebuild reserves and
stabilize the economy, but this has come at the cost of growth and pushed up
poverty.

Milei, who took office in December, is also battling to bring down inherited
inflation that has risen above 250%, one of the highest levels in the world,
which saps the value of people’s earnings and savings.

The report flagged warning signals saying that the cost-cutting appeared also to
be hitting initiatives and welfare programs aimed at protecting children.

“Being fully aware of the fiscal restrictions that the country is facing, UNICEF
asks that children and adolescents are prioritized,” added Waisgrais.

“We ask that investment in these sensitive policies is prioritized so that
poverty does not continue to increase.”

(Reporting by Lucila Sigal; Editing by Adam Jourdan and Aurora Ellis)





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