09/23/2024 – 14:08
Argentine President Javier Milei promised on Monday, the 23rd, to eliminate the foreign exchange cap – which restricts the purchase of foreign currency – “as soon as possible”, during an event at the New York Stock Exchange. “As soon as we finish cleaning up the imbalance in the Central Bank, we will lift the foreign exchange cap”, he told the press present at the event.
According to the newspaper Financial ScopeMilei argued that the exchange rate cap could be reduced “without any problem” once capital-induced inflation falls, because there would be no danger to macroeconomic stability. At the event, the president also celebrated Argentina’s inflation figures and praised Economy Minister Luis Caputo’s management as the “best in the country’s history.”
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