The Minister of Economy announced that in the next two weeks, a measure aimed at promoting the use of dollars in the Argentine economy will be implemented. This initiative seeks to encourage individuals and companies to withdraw the dollars they have saved and put them into circulation. The goal is to achieve a remonetization in dollars that increases currency competition in the country.
The proposed measures could aim towards an endogenous dollarization through trade flows, generating an environment in which economic agents prefer to operate in dollars independently, without relying on an official dollarization system.
It is speculated that among the measures, there could be changes in how foreign currencies are settled, especially for agro-exporters. The Government is preparing to launch a proposal that encourages Argentines to use their dollars for everyday expenses, offering incentives such as tax cuts and the use of financial technology like payments through QR codes.
The Minister also announced an upcoming announcement related to the acceleration of the monetization of the economy, whether in pesos or dollars, highlighting the importance of increasing the money supply to foster economic growth. The possibility of facilitating the settlement of foreign currencies among private parties and reducing taxes for dollar transactions is being studied.
The ultimate goal is to ensure that Argentines use dollars for their everyday expenses instead of keeping them saved, generating a tax incentive for the use of the US currency in daily transactions. Despite the measures taken, the Central Bank faces challenges in accumulating reserves, creating uncertainty in the financial market.
