Less than 1 in 6 young people have formal employment

Due to the persistent drainage of reserves, authorities announced a new exchange rate policy together with a new social program, called “Progresar” which intends to alleviate the marginalization suffered by millions of young people.  Authorities are still unaware that exchange rate volatility is associated with excessive and badly managed public spending and that the only viable solution is a deep public sector transformation. Nevertheless, more alarming is the idea of inducing thousands of young people, in the beginning of their productive life, to become dependent on state paternalism.

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