Argentina to Lift Capital, Currency Controls

This is a Argentina news story, published by ABC News, that relates primarily to IMF news.

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strict currency controls

ABC News

•

World

Argentina says it will lift the country's strict currency controls with help from the IMF

Summary

Nutrition label

80% Informative

IMF 's executive board to approve $20 billion bailout package for Argentina .

New policy involves cutting the Argentine peso free from its peg to the dollar and letting it trade within a so-called currency band that ranges from 1,000 to 1,400 pesos per dollar.

Announcement came as IMF ’s executive board was preparing to approve the new IMF loan with Argentina .

Capital flight could imperil Milei's primary accomplishment of lowering inflation ahead of crucial midterm elections in October .

The government said that while it was lifting restrictions for individuals, it would retain some regulations for companies.

As uncertainty over the IMF deal spread jitters among investors, the gap between the parallel black market rate and official exchange rate widened by over 20% in recent week .

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful