The government of Javier Milei, who is set to take office on Dec. 10, has announced that it will not immediately lift currency controls upon assuming power. However, the administration does have dollarization as a medium-term goal for Argentina.
The news was revealed by Luis Caputo, a key member of Milei’s team, during a meeting with bankers in Buenos Aires. Caputo, who is leading Milei’s economic team during the transition, informed banking executives that the new government’s primary focus will be reaching a fiscal surplus in 2024.
The meeting, which was attended by around 30 people including advisers and bank officials, served as an opportunity for Wall Street veteran Caputo to introduce the main lines of Milei’s economic plan.
The decision to keep currency controls in place has sparked discussions among financial experts and citizens alike. It remains to be seen how this strategy will impact the country’s economy and financial stability in the coming years.