The last eleven months have seen a net outflow of $12.3 billion from Argentina, affecting the central bank’s ability to accumulate reserves, according to the bank’s latest report. The report said that in April, 636 million more dollars left Argentina than entered, the latest in almost a year of outflows. As President Javier Milei has attempted to maintain the value of the peso to combat high inflation, relatively high prices for domestic goods and services have encouraged imports and discouraged tourists. “Payments for imports, the negative balance in services and interest, and the structural tourism deficit explain the deterioration of this account this year,” it said.
SOURCE: YAHOO FINANCE
https://finance.yahoo.com/news/argentina-reserves-build-stalls-dollars-154907737.html