VOICED : Argentinos reaccionan a fin del cepo

Argentina announced a policy change allowing the purchase of foreign currency for savings amid high inflation and dwindling reserves. The unpopular currency control, in place since 2011, aimed to prevent capital flight. Citizens express dissatisfaction, citing personal difficulties. The government also reduced the tax on foreign credit card purchases and currency acquisition. Despite these changes, some people's daily lives remain unaffected. The official currency devaluation led to a disparity between official and black market exchange rates.

What significant policy change did the Argentine government announce?

• Allowing the purchase of foreign currency for savings

• Banning foreign investments

• Introduction of a new currency

• Increasing interest rates

What was the purpose of the currency control measures introduced in 2011?

• To increase foreign investments

• To boost tourism

• To prevent capital flight

• To stabilize the stock market

How did the government change the tax surcharge on foreign credit card purchases?

• Increased it from 20% to 35%

• Reduced it from 35% to 20%

• Abolished it completely

• Introduced a new 50% surcharge

What was the exchange rate difference between the official and black market during the currency devaluation?

• 8 pesos official, 13 pesos black market

• 12 pesos official, 18 pesos black market

• 10 pesos official, 15 pesos black market

• 5 pesos official, 10 pesos black market

What challenges did people face due to the currency devaluation?

• Difficulty in obtaining dollars

• Increased access to foreign currency

• Lower inflation rates

• Easier international trade