Hop into one of this city’s yellow-and-black taxis and the
world-weary individual behind the wheel will probably do one of two
things to initiate conversation. The first: slag off leftist president
Cristina Fernandez de Kirchner. The second: bemoan a lack of US dollars
in the country.
Argentina is a nation obsessed with the greenback. Their talk about the Benjamins peaked in October 2011, when the government initiated a clampdown on people buying the currency.
Fast-forward to present day and it is now effectively impossible for locals to buy, except when vacationing overseas — and even then they have to jump through a series of hoops.
With the country locked out of international markets — and reliant on the central bank as a lender — the state is desperate to keep its limited amount of US currency in circulation to help service overseas debt and infrastructure investment.
In May, the country even launched an ambitious tax amnesty project to try and get savers to exchange undeclared dollars for investment bonds in construction and energy. The bonds went on sale at the beginning of this month, with the amnesty due to last until the end of September.
http://www.globalpost.com/dispatch/news/regions/americas/argentina/130705/argentine-black-market-usd-dollar-peso-forex
Argentina is a nation obsessed with the greenback. Their talk about the Benjamins peaked in October 2011, when the government initiated a clampdown on people buying the currency.
Fast-forward to present day and it is now effectively impossible for locals to buy, except when vacationing overseas — and even then they have to jump through a series of hoops.
With the country locked out of international markets — and reliant on the central bank as a lender — the state is desperate to keep its limited amount of US currency in circulation to help service overseas debt and infrastructure investment.
In May, the country even launched an ambitious tax amnesty project to try and get savers to exchange undeclared dollars for investment bonds in construction and energy. The bonds went on sale at the beginning of this month, with the amnesty due to last until the end of September.
http://www.globalpost.com/dispatch/news/regions/americas/argentina/130705/argentine-black-market-usd-dollar-peso-forex
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