On May 8, 2025, Argentina took a significant step in its economic reforms by partially lifting long-standing currency controls, a move President Javier Milei called the country’s “liberation day.” The policy, detailed in a report by The Conversation, eases restrictions on foreign currency purchases and overseas money transfers, which were initially imposed to protect the Argentine peso’s value. The controls, known locally as “el cepo,” had limited citizens and businesses in accessing dollars, a critical currency in the inflation-prone nation. This change aligns with a recent $20 billion IMF deal, following the government’s repayment of $12 billion to the Central Bank, as noted in a Bloomberg report from May 6. The reform aims to open Argentina to global markets, with Milei’s administration also securing a fiscal surplus. The policy shift is a key milestone in Milei’s economic strategy, with more reforms expected ahead of the October midterm elections.
34news.online
34news.online
