Argentina imposes currency controls as debt crisis deepens

Argentina imposes currency controls as debt crisis deepens

Argentina’s has authorized its central bank to prop up the struggling peso by imposing currency controls on companies. The Central Bank of Argentina has been selling off billions of dollars of reserves in an effort to halt a dramatic slide in the peso. The latest move means companies will need permission to access the forex market to purchase foreign currency and make transfers abroad.

KCooper
KCooper
Mister Manager
Mister Manager 5 months

In other news, democratic socialists in the US praise this move as more proof the economic system works

Paul C
Paul C 5 months

As señor Beto says, "Buena suerte."

MeisterBear
MeisterBear 5 months

Watch the dominoes fall

FirstCensorshipThenJail
FirstCensorshipThenJail 5 months

Waiting for the big one, the black hole of economic collapse. Once China goes watch as the socalists governments around the world, with their globalists supporters get sucked into oblivion. This is a terrible, terrible, consequence of Western corruption, malfeasance and misconduct at every level in the financial markets. Time to clean up Wall Street and the Big Banks. Time to start investing in Western growth and not managed decline. Time to move the supply chain out of communist countries and back to democratic societies. Time to stop making corruption a business. Killing South America to save the Chinese Communist Party is insane economic policy. Time to change.

Hannibal
Hannibal 5 months

Anyone investing in Argentina after the bond haircut is an idiot who deserves to lose their shirt during the current and subsequent devaluation.

I Am Grug
I Am Grug 5 months

Oh no.

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