The Week at a Glance

Argentina: Never Ending Restrictions

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Since November 2011, Argentina has lived with financial restrictions except for three and a half years, from the beginning of 2016 to September 2019. The perspective is that it will have many more years of exchange restrictions, at least during the entire government of Alberto Fernández. The reason why the restrictions were set is that the Central Bank ran out of reserves to defend the exchange rate. Removing the restrictions would imply a devaluation that almost no politician in the world would be willing to carry out. In fact, one of the criticisms on Macri was lifting the restrictions too
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