BREAKING: Economy Minister Caputo announces plan to end Argentina’s exchange rate controls starting Monday

The announcement came as the Central Bank said Argentina has reached a new US$20 billion deal with the IMF, of which US$15 billion will be disbursed in 2025La entrada BREAKING: Economy Minister Caputo announces plan to end Argentina’s exchange rate controls starting Monday se publicó primero en Buenos Aires Herald.

Argentine Economy Minister Luis Caputo announced on Friday that the country would lift its foreign currency controls starting on Monday. His announcement came as the Central Bank said that the country had reached a US$20 billion agreement with the International Monetary Fund (IMF), of which US$15 billion will be disbursed in 2025.Caputo, however, said the lender’s board was still in a meeting discussing the new program.

The IMF had not made the new deal publicly available during the minister’s speech.The country will also adopt a currency band scheme, allowing the Central Bank to buy or sell U.S.

dollars to keep the exchange rate between AR$1,000 and AR$1,400. Those limits would rise by 1% a month.After devaluing the peso by 54% in December 2023, the government adopted a crawling peg regime, devaluing the currency by 2% a month.

In January, it slowed that rate to 1%.Developing story – check back for updatesLa entrada BREAKING: Economy Minister Caputo announces plan to end Argentina’s exchange rate controls starting Monday se publicó primero en Buenos Aires Herald..