Wednesday, December 16, 2015
Government announces end of currency controls, exchange rate unification
Finance Minister Alfonso Prat Gay today announced a much anticipated relaxation of currency controls.
"We are very glad to announce the end of the currency clamp," Prat Gay told reporters this afternoon in a press conference. "Conditions are given" to take this measure, he added. "Since the dollar clamp was implemented, the peso devaluation reached 230 percent," he stressed.
"Those Argentines who want to import can, those who want to buy dollars can," the minister said adding "this situation was unsustainable." From now on, Argentines will be able to buy dollars without the authorization of AFIP tax agency.
He stated the government has been working on various forms of financing with banks and agro exporting companies to reinforce international reserves. These companies are expected to liquidate 400 million dollars per day within the next three weeks. Moeover, he informed there will be a large conversion of Chinese yuans into dollars in the next few hours.
The minister specified companies will be able to amass 2 million dollars per month.
Prat Gay explained there will be only one exchange rate, ending with the multiple rates which coexisted these years.
"We are very glad to announce the end of the currency clamp," Prat Gay told reporters this afternoon in a press conference. "Conditions are given" to take this measure, he added. "Since the dollar clamp was implemented, the peso devaluation reached 230 percent," he stressed.
"Those Argentines who want to import can, those who want to buy dollars can," the minister said adding "this situation was unsustainable." From now on, Argentines will be able to buy dollars without the authorization of AFIP tax agency.
He stated the government has been working on various forms of financing with banks and agro exporting companies to reinforce international reserves. These companies are expected to liquidate 400 million dollars per day within the next three weeks. Moeover, he informed there will be a large conversion of Chinese yuans into dollars in the next few hours.
The minister specified companies will be able to amass 2 million dollars per month.
Prat Gay explained there will be only one exchange rate, ending with the multiple rates which coexisted these years.
Keine Kommentare:
Kommentar veröffentlichen