Argentina Imposes Currency Controls

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A man shows Argentine pesos outside a bank in Buenos Aires’ financial district, Argentina August 30, 2018. REUTERS/Marcos Brindicci/File Photo

DW: Argentina: Macri imposes currency controls as peso spirals

President Mauricio Macri’s government has imposed foreign-exchange controls on Argentine exporters. A week of financial uncertainty has led to a sharp drop in the value of the peso.

In an effort to prop up the peso, authorities ordered exporters and citizens to seek permission from the Central Bank of Argentina before purchasing foreign currency or making transfers abroad, according to a decree published in the Official Bulletin on Sunday.

In the wording of Sunday’s decree, the temporary measures would “regulate more intensely the currency exchange regime and strengthen the normal functioning of the economy.”

Individuals seeking to buy dollars now face a monthly limit of $10,000 (€9,100). All these new measures will remain in place until December 31.

Read more ….

WNU Editor: Considering who is likely to be the enxt President …. Conservative Argentine President Macri Suffer A Massive Defeat In Primary Elections On Sunday (August 12, 2019) …. if I had money in Argentina I would be looking for a way out.

More News On Argentina Imposing Currency Controls

IMF pledges support for Argentina after return to currency controls amid debt crisis — Reuters
Argentina imposes exchange controls to calm markets — France 24
Argentina Imposes Capital Controls as Reserves Drain Away — Bloomberg
Argentina Imposes Currency Controls — Zero Hedge

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