Argentina's minimum wage to be increased by 30 percent after failed negotiations. 57 percent of the population currently lives below the poverty threshold.
In Argentina the inflation rate is over 250 percent year-on-year. Around 27 million people in Argentina are poor, and 15 percent of them have too little money to cover their food needs. In January, Argentina's president prescribed "shock therapy" for his country with severe austerity measures. The situation will initially get worse before things get better again.