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November 24, 2014
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Government unveils details of its plan to allow dollar sales for savings

Cabinet Chief Jorge Capitanich speaking earlier at the Government House.

The government today unveiled the details of its new plan to lift prohibitions of dollar sales for savings, after the measure was made official earlier on the official gazette.

In a press conference held at the Government House, Cabinet Chief Jorge Capitanich and AFIP tax agency chief Jorge Echegaray explained the measure announced last Friday by Economy Minister Axel Kicillof.

The 20% surcharge on foreign currency purchases will still be applied unless the amount is deposited at a bank in no less than 365 days of the operation.

Capitanich specified “every registered worker” will be able to buy dollars, “depending on their monthly, usual and permanent income.”

He added Argentines who are willing to buy dollars must have a minimum wage of 7,200 pesos, and can purchase a maximum of 2,000 dollars per month.

Capitanich stated that “due to the success these measures have had in the receptive and domestic tourism,” no changes have been implemented regarding credit card purchases abroad which will still be affected by a 35% surcharge.

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Tags:  Argentina  savings  forex  controls  economy  dollars  





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