Poverty levels in Argentina skyrocketed to 57.4 per cent in January, the highest rate in 20 years, according to a study by the Catholic University of Argentina released over the weekend.
The study quickly unleashed a series of accusations between Argentina鈥檚 former Vice President Cristina Fern谩ndez de Kirchner and the government of President Javier Milei, who came to power announcing a series of shock measures aimed at tackling the country鈥檚 severe crisis.
According to the report, about 27 million people in Argentina are poor and 15 per cent of those are mired in 鈥渄estitution,鈥 meaning they cannot adequately cover their food needs.
The UCA鈥檚 social debt observatory is considered an independent and prestigious research space whose reports on poverty cover a larger geographical area than those conducted by Argentina鈥檚 national statistics agency, INDEC. It also applies a methodology that addresses the problem with a more multidimensional approach and its findings are seldom questioned by politicians and economists.
According to the center鈥檚 latest report, the increase in poverty levels in January is partly due to the devaluation of the Argentine peso applied by the Milei government shortly after taking office on Dec. 10. This resulted in an increase in the price of the country's basic basket 鈥 which includes food, services and non-food goods 鈥 and the basic food basket.
The greatest impact, the study concludes, was experienced by working or middle class households that do not receive benefits through social programs.
Milei, an ultra-liberal economist who is implementing a series of shock measures, including a sharp reduction in public spending, said that the fact that 鈥渟ix out of every 10 Argentines are poor鈥 constitutes 鈥渢he true inheritance of the caste model,鈥 which is what he calls the political class who has governed Argentina for the last 20 years.
He later said that his government 鈥渨ould give its life鈥 to bring about a change in the socioeconomic reality of Argentina.
Former Vice President Fern谩ndez de Kirchner (2019-2023), who also governed between 2007 and 2015, attributed the poverty problem largely to the policies of conservative President Mauricio Macri (2015-2019), who succeeded her in office, and to the adjustments applied by the current administration.
She said that, starting in 2018, 鈥渨ith a debt in dollars and the return of the IMF (...), we went backwards.鈥 The reality presented by the study, Fern谩ndez de Kirchner said, 鈥渟hows that today we are worse off than in 2004.鈥
The government responded to Fern谩ndez de Kirchner asking her to 鈥渂e silent.鈥
Presidential spokesman Manuel Adorni said Monday during his daily press conference, that the former president is 鈥渙ne of the most relevant figures in the last 20 years of Argentina's decline.鈥
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