Trebled fuel prices have brought traffic in the Argentine capital - Buenos Aires -- virtually to a standstill.
GV Main streets of B Buenos Aires with little traffic (4 shots)
CU & SV Pedestrians (3 shots)
SV & CU Empty taxis (3 shots)
SV People boarding bus
LV More empty taxis
SV More people boarding bus
SV PAN FROM Airport sign TO parked taxis
CU ZOOM OUT TO People with baggage boarding airport bus
LV Taxi rank
SV PAN People walking with luggage away from airport.
Initials BB/1750 BA/MR/BB/1810
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Background: Trebled fuel prices have brought traffic in the Argentine capital - Buenos Aires -- virtually to a standstill.
The high fuel prices are part of a package of measures introduced two weeks ago on 6 June by the new Finance Minister, Celestino Rodrigo, in a further attempt by the Peron Government to prop up Argentina's collapsed economy.
Petrol prices were raised between 172 per cent and 200 per cent, depending on the grade ... stern medicine for a highly car-conscious society.
Along with petrol, gas and electricity prices were drastically increased and the cost of international air fares almost doubled.
The peso was devalued for the second time in three months -- this time by 50 per cent.
The new measures are essentially designed to boost exports, while reducing imports. An across-the-board wage rise of 38 per cent was announced at the same time.
In the past 11 months, Argentina's foreign reserves have slumped from $US 2,000 million to $US 900 million -- the equivalent of three months' imports. Inflation is currently running at more than 80 per cent a year: the budgetary deficit has widened to 50 per cent.