A top Argentine lawmaker came on stage (and lost his temper) when he had to explain why his savings are in dollars after the government of President Cristina Fernandez, including him personally, launched not only strong restriction policies on dollar purchases, but told the population to forget about dollars and start thinking in pesos.
The following is an instructive of the steps to follow in the labyrinth set up by the Argentine bureaucracy to have access to a limited amount of US dollars. The instructive should help clear some of the latest measures implemented by the administration of President Cristina Kirchner and was published on Tuesday by The Buenos Aires Herald and Ambito Financiero.
Argentine Senator and former cabinet chief Anibal Fernandez strongly defended on Monday restrictions imposed by the government on dollar purchases arguing it would be “suicidal” to return to a flexible scheme which he insisted was implemented in defence of “the interests of Argentina”.
Argentina announced on Thursday the use of a new computer tool to gather information from buyers of holiday packages from travel agencies, in another attempt to control savers thirst for greenbacks after the government's crackdown on access to dollars.
Uruguay and Argentina agreed to exchange tax data in a deal that gives Argentine inspectors the power to dig up information on savers with bank accounts in the neighbouring country, officials said on Tuesday.
Industry and Foreign Trade minister Fernando Pimentel expressed on Wednesday the Brazilian government’s deep disappointment with the latest Argentine legislation to be implemented on trade saying that Argentina is “a permanent problem”.
Brazil's government is ready to respond to Argentine trade restrictions introduced this week but will evaluate the impact of the measures before making any retaliatory moves, trade officials said Friday.
While Argentina’s Mercosur trade partners have adopted a cautious attitude regarding the latest measures that make it more cumbersome and bureaucratic to sell to Argentina, the country’s manufacturers and importers have warned of the consequences and called for a more balanced approach to the issue.
“There are no contacts at all of any kind with the government, they have been all suspended” said on Thursday the Deputy Secretary of the Argentine powerful teamsters union Pablo Moyano when asked about current relations between organized labour and the administration of President Cristina Fernandez.
Argentina attempt to control capital flight through strict foreign exchange measures including the tax revenue office which gives its approval or denial to foreign money transactions have added another tool: sniffer dogs.