While the government celebrated the result as proof that banks are lending to the private sector, analysts say it’s too early to tell

A 10-point cut to the tax, for trade purposes only, took effect on Monday morning

The reduction from 17.5% to 7.5% will not affect credit or debit card purchases in U.S. dollars

President Javier Milei thanked Economy Minister Luis Caputo for the reduction

Caputo is going all-in on fighting inflation — postponing reserve accumulation and economic reactivation to do so

The Fund’s managing director said it supports the government’s efforts to ‘turn the economy around’

The economy minister also said that Argentines would have to sell their U.S. dollars to pay taxes during an interview

While Milei says this is the first step toward lifting currency controls, critics worry about the depletion of international reserve

President Milei said the move is part of the government’s plan to close all emission sources