MercoPress. South Atlantic News Agency

No more foreign players for Argentine football clubs due to US dollar crisis

Argentina's Central Bank has frozen money wirings abroad thus preventing clubs from hiring players from foreign clubs

Argentina's current economic crisis is taking its toll on football. Transactions involving foreign players who were about to be hired by local clubs have been put on hold after local clubs have been rendered unable to have access to the amount of US dollars needed for the deal to go through.

 The most notorious case is that of Colombian striker Miguel Borja, whose transfer rights are owned by Barranquilla's Junior but who was playing for the Brazilian team Palmeiras (the one President Jair Bolsonaro is known to root for).

Borja was to arrive at River Plate last Friday but his international move will not be happening altogether for the time being, even though the deal had been agreed upon verbally.

According to TN, River Plate, who transferred striker Julián Álvarez to British top league squad Manchester City, has been forced to handle the foreign currency it received for the deal through official channels: in other words, at the official exchange rate, which is nearly half as much as what a US dollar is worth on the black market, which jumped to AR$ 260 / US$ 1 Monday from Friday's AR$ 240.

Borja's transfer to the Argentine club had been priced at US$ 7 million.

Argentina is going through a crisis regarding the amount of dollars and every time a club has to make a payment in dollars -or euros- the Central Bank has to approve it, but has failed to greenlight it this time around in the case of Borja.

The player transfer market ends July 7 and Argentine clubs might have to forget about any new deal involving international stars unless the Central Bank (BCRA) approves the wiring of US dollars abroad shortly.

The country is anxiously waiting to see what happens when Economy Minister Silvina Batakis takes over after Martín Guzmán resigned from his job last Saturday.