Buenos Aires, June 25 (RHC)-- Argentina labor's umbrella organization CGT, has organized a strike for Monday to protest the economic reforms being implemented by president Mauricio Macri's business friendly administration.

Since taking office in 2015, Macri began his mandate lifting currency controls left by his predecessor, both encouraging foreign investment and settling debts. But, after inflation targets were raised last December, the value of Argentina’s currency dropped swiftly. Today, interest rates stand at a staggering 40% and Macri has been forced to turn to the IMF for aid.

Argentines still hold fresh memories of the 2001 crises when IMF-forced austerity measures swept millions into poverty. While Macri’s government claims that social welfare programs will remain untouched, unions argue rising imports and utility prices have already done harm to the working class.

Workers in the public transport, taxis, aviation, banking and education sectors are among those who will walk off the job in support of the CGT stoppage.

This is the third general strike organized by CGT organization against the Macri administration.