MercoPress. South Atlantic News Agency

Strong peso leading to outflow of dollars from Argentina

Argentina is on track for a historic outflow of dollars due to surging outbound tourism, driven by a favorable exchange rate. Initial projections for this year have been significantly revised upward, with analysts now anticipating a total dollar outflow between US$11 billion and US$13 billion (around 1.6% of the country's GDP), which would outpace the US$10.662 billion recorded in 2017 under then-President Mauricio Macri. Read full article