Argentina’s peso slid 12% to about 1,200 per dollar after the country undid large parts of its currency and capital controls at the end of last week, part of sealing a $20bn loan programme with the IMF. Despite the volatility, the move to unravel controls in place since 2019 has been cheered by investors and economists, who say it marks a key step towards normalising the Argentine economy after years of crises. The move, which could risk stoking inflation and see Argentines rush to snap up dollars, is a key plank of libertarian President Javier Milei’s bold and risky reforms in the grains-to-shale rich country that has been battling triple-digit inflation, dwindling currency reserves and tepid growth.
April 14, 2025
SOURCE: BUSINESS LIVE
Argentina peso slides after currency and capital controls lightened