Argentina: Bank union calls for nationwide strikes Feb. 9, 19-20

Event

The Banking Association (AB) union has called for nationwide strikes to take place on Friday, February 9, Monday, February 19, and Tuesday, February 20. AB leaders announced the work stoppages on February 1 after negotiations between union officials and the government failed. Sergio Palazzo, the head of the AB, called for all banks across the country to be closed during the abovementioned days. If the strike goes ahead as planned on February 9, there are concerns that some banks will run out of cash before the long holiday weekend due to the upcoming carnival celebrations. Banks will be closed February 12-13 for the carnival. Associated protests by bank workers may occur during the strikes.

Context

Bank workers are protesting against the government’s proposed changes to the pension system. The banking sector has offered to increase workers’ salaries by 9 percent in 2018. However, the union rejected the offer, claiming that inflation is expected to increase by 15 percent and salaries need to be higher.

Advice

Individuals in Argentina are advised to monitor the situation, anticipate potential disruptions to cash supplies, carry out necessary banking operations ahead of the strikes, and avoid all demonstrations as a precaution.