Inflation or politics? Argentina hit by wave of looting
- Dozens of people have been arrested in Argentina for what locals call ‘piranha attacks’ on stores
- Looting a sign of increasing economic volatility ahead of a tense race to general elections in October
Argentina has been hit by a wave of looting that has ratcheted up political tensions ahead of October elections as the country grapples with 113 per cent annual inflation.
Since Friday, groups of people, sometimes dozens at a time, have forced their way into supermarkets and other stores, fuelled by calls on social media, authorities say.
Around 200 people, many of them minors, have been arrested for what locals call “piranha attacks” – from the outskirts of the capital Buenos Aires, to the Patagonian city of Bariloche and the Mendoza wine region.
Images of ransacked shops have sparked memories of Argentina’s 2001 financial meltdown, when a huge debt default and collapse of the banking system led to desperate scenes of looting.
But while some attribute the plundering to the current economic crisis, others see it as an orchestrated effort to destabilise the country ahead of October 22 elections.