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Omnibus Bill Vote Postponed, Consumer Confidence Dips

ARGENTINA
  • Argentina’s congress has delayed at least until next week a vote on the administration’s austerity measures due to lack of consensus on key proposals to raise taxes and change the country’s pension system. The delay came amid a mass protest by the largest workers’ union on Wednesday.
    • The walkout was Argentina’s first general strike in more than four years, and it was also the quickest ever to be organized in a president’s term since the return of democracy in 1983, according to a review by local media outlet Infobae. Reuters reported that tens of thousands of workers demonstrated in the capital.
    • “For union leaders what is at stake is really a lot. If they don’t complain, their bargaining capacity is going to drop dramatically and their influence in politics is going to dwindle,” political analyst Sergio Berensztein told The Associated Press in a phone interview.
  • Separately, in local data, the consumer confidence index dipped to 35.60 in January versus a prior reading of 39.81.
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