Argentina Lifts Capital Controls

This is a Argentina news story, published by Yahoo Finance, that relates primarily to Javier Milei news.

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International Monetary Fund

Associated Press News

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World

In key milestones for President Milei, Argentina secures IMF deal and ends most capital controls

Summary

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79% Informative

President Javier Milei announces he will lift most of country's strict capital and currency controls next week .

IMF 's executive board late Friday green-lit the $20 billion bailout package.

IMF: Argentina committed to doubling down on spending cuts and economic deregulation.

Milei's team has sought to fend off a politically costly official devaluation of the peso that could push inflation much higher.

Argentina is already the IMF 's biggest debtor, owing some $43 billion .

It's a high-risk mission, as scrapping the “cepo” could unleash years of pent-up demand for U.S. dollars and spark a currency run as companies try to send their long-trapped profits home.

“It could be a tsunami of money out,” says Christopher Ecclestone , a strategist with investment bank Hallgarten & Company .

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semi-formal

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English

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