“Another Scam”: The Supposed End of Argentinian Currency Controls (The “CEPO”) by Milei

Oscar Garu forwards this message about Milei’s “end of the CEPO”:

“This is a joke.  The common people, who would have exchanged pesos in cash for dollars are substantially prevented from doing so with the ridiculous limit of $100 U.S. per month.  Caputo’s [the Argentinian Minister of Economy] and Milei’s friends, who are in to take advantage of the carry trade, and who keep their pesos in the banks will have the golden opportunity to exchange their pesos, acquired while the exchange rate with the Dollar was kept artificially low by the government, and to drain a big part of the new dollars flowing in through the IMF’s new credits for Argentina.  Anyway, how you can claim to lift the exchange controls when there is a new and stifling limit for cash is a big mystery.”

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