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. The government also reduced the tax on foreign credit card purchases and currency acquisition. While some citizens remain unaffected, others struggle with the dollar shortage. The black market thrives as the official currency devalues, with speculators trading dollars at higher rates than the official exchange.

What major economic change did the Argentine government announce?

• Ban on foreign investments

• Introduction of a new currency

• Allowing the purchase of foreign currency for savings

• Increase in interest rates

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

• To stabilize the stock market

• To increase foreign investments

• To prevent capital flight

• To boost tourism

How did the currency control measures affect individuals with family abroad?

• They could easily send money abroad

• They faced difficulties in sending money abroad

• They received tax benefits

• They were unaffected

What change was made to the tax surcharge on foreign credit card purchases?

• It was eliminated completely

• It remained the same

• It was increased to 50%

• It was reduced from 35% to 20%

What was the black market exchange rate for the dollar compared to the official rate?

• 8 pesos to 1 dollar

• 13 pesos to 1 dollar

• 10 pesos to 1 dollar

• 15 pesos to 1 dollar