Argentina’s Central Bank said payment intermediaries will have to enable debit card transactions in US currency by February 28, marking a key step in President Javier Milei’s pledge to dollarise the economy. The bank also developed a programme to allow people to make installed payments in either dollars or pesos. The move aims to “bolster currency competition in order to allow people and businesses to use the currency they wish in their daily transactions,” according to a Central Bank statement. Separately, the bank decided to keep its interest rate unchanged at 32 percent, frustrating investors’ growing bets on another borrowing cost cut
January 17, 2025
SOURCE: BUENOS AIRES TIMES
Argentina takes steps to dollarise and holds key rate