Argentina’s government is racing against time as it works with major banks and payment firms to advance Javier Milei’s dollarization strategy even as pesos are in high demand. To do so, the government plans to take two key steps — launch the first dual-currency debit card, so that Argentines can make dollar payments despite ongoing exchange rate controls, and allow banks to provide dollar loans in sectors that are currently excluded from such financing. The initiatives aim to capitalize on the recent surge of dollar inflows stemming from the government’s tax amnesty.
December 19, 2024
SOURCE: BNN BLOOMBERG
Argentina Takes Steps to Speed Up Milei’s Dollarization Strategy