Opposition protests against cuts.
Some of the provinces are in dire economic straits in their own rights. Several have been forced to pay state employees with provincial bonds because they do not have the cash to pay salaries. The country's 23 provinces owe $22 billion in debt, on top of the $128 billion owed by the federal government. Most are considered to be in such precarious financial condition that lenders and investors refuse to advance them any more cash.
Meanwhile, unemployment of more than 16% has brought labor unions out into the streets to protest. Demonstrations this week paralyzed traffic in the capital and other cities.
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|Title Annotation:||budget cuts to provinces in Argentina source of dischord|
|Article Type:||Brief Article|
|Date:||Aug 30, 2001|
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