Analysis: Ban on Layoffs in Argentina Could Exacerbate Employment Crisis

Unemployment in the country is approaching 30%; government may face pressure to reverse restrictions during negotiations with the International Monetary Fund.

RIO DE JANEIRO, BRAZIL - The ban on firing workers in Argentina during the pandemic seems to be storing up more problems than it solves in what was already one of the world’s worst job markets.

Annual inflation in Latin America's third-largest economy stands at around 40%, the Central Bank is short of dollars, and talk of a currency devaluation is near-constant. The government is trying to restructure the US$44 billion it owes to the International Monetary Fund (IMF) after the collapse of a loan program last year.

Most emerging economies are struggling to find resources . . .

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