Argentina Tax Amnesty Scheme Lures $18 Billion in Bank Deposits

[MilHojas]

https://money.usnews.com/investing/news/articles/2024-10-31/argentina-tax-amnesty-push-pulls-in-18-billion-in-deposits

A tax amnesty program in Argentina encouraging residents to deposit foreign currency previously stuffed under mattresses, stored in safety-deposit boxes or saved in accounts abroad has drawn in around $18 billion so far back to local banks, an official said on Thursday.

 

[antipodean]

It was reported yesterday that private USD bank deposits in Argentina are now at their highest point since the end of convertibility (when 1 peso was 1 dollar) and are thus higher than the previous peak in the past almost three decades witnessed under the Macri government, when for a few short years there was no CEPO (capital controls) in Argentina.