The Central Bank of Argentina decided this Thursday (15) to prevent those who receive state subsidies on public service tariffs from accessing the exchange market to buy dollars and other foreign currencies.
“Users who benefit from the subsidy on utility tariffs will not be able, while maintaining this benefit, to make purchases of foreign currency,” the institution said in a statement.
The management of the Argentine Central Bank has decided that users of natural gas, electricity and drinking water, while receiving state subsidies on the tariffs of some or all of these services, will not be able to access the official market or carry out transactions with bonds and other securities with settlement in foreign currency.
This measure adds to many other restrictions on access to the official foreign exchange market in the country.
In August, as part of policies aimed at reducing the fiscal deficit by reducing the burden of subsidies paid by the State, a register was carried out of consumers who requested the continuation of subsidies in their utility bills. About 7.5 million users were registered.
Argentina faces serious macroeconomic imbalances, both fiscal and monetary, with high inflation, low monetary reserves and recurrent exchange rate shocks.
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