2023-10-23 19:17:23
The Minister of Economy, Sergio Massaannounced, in the middle of the race for the 2023 ballot, a flexibility in the exchange market by enabling the 30% of exports can be settled via Cash Settlement and 70% in the Single Free Exchange Market (MULC).
The measurement will be in valid starting tomorrow for one month and will be implemented through a resolution of the Ministry of Economy.
Massa formulated the announcement during a press conference who offered to be late at the Treasury Palace to international media.
In this way, the minister extends a differentiated exchange rate to production in generaloption that Previously it was only available for agriculture, regional economies and some sectors such as energy..
Massa seeks to reinforce the Central Bank’s reserve position which in recent weeks were below US$25 billion.
Argentina must pay close to US$3.5 billion between October 31 and November 1 that will further weaken the Central coffers.
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