News of capital controls

Milei’s foreign-exchange shake-up has brokers moving into banking

02-07-2025 11:42 Brokerages are restructuring after President Javier Milei took away lucrative arbitrage opportunities that juiced their business when he rolled back capital controls.

ANALYSIS: SHOCK THERAPY

Milei defies forecasts so far as Argentina’s peso strengthens

23-04-2025 22:41 Analysts see a stronger peso over the next few months with traders buying into President Javier Milei's plan.

GUEST COLUMN

Malaysia’s capital control (cepo) success – a journey beginning in Buenos Aires

19-04-2025 06:03 Malaysia’s success highlights the importance of policy credibility, clarity of purpose and exit strategy in the use of capital controls.

Editorial

Floating on air?

19-04-2025 06:00 Milei might echo Alfonsín by proclaiming: “Happy Easter, the dollar is in order” but early days – a more total exit from currency and capital controls by Macri in in late 2015 was even smoother, without ensuring him a happy ending.

ECONOMIC INDICATORS

What was the exchange rate when Milei came into office?

16-04-2025 16:10 Official exchange rate almost doubled from near 400 pesos to 838 pesos per greenback in the initial four days after Milei’s inauguration – now it stands closer to 1,200.

ANALYSIS: SHOCK THERAPY

Milei risks reigniting inflation by floating Argentina’s peso

16-04-2025 12:35 Decision to ease currency controls is having an impact in the real economy. Retailers and importers are cautiously adjusting their prices as the peso weakens. And some fear it could spark inflation.

ECONOMIC CHANGES

Peso slides, bonds jump after FX rules lifted

14-04-2025 13:46 Argentina’s sovereign debt climbed Monday while the peso slipped after the country lifted most of its currency-market restrictions.

POLITICS – ANALYSIS

Milei launches new economic phase, with nod to middle class

11-04-2025 23:56 Casa Rosada expresses satisfaction as alignment with Trump bears fruit and secures an unprecedented initial disbursement from the International Monetary Fund.

ECONOMIC CHANGES

Milei ends 'cepo' as IMF board approves US$20-billion bailout

11-04-2025 23:32 Milei declares "cepo is gone for good" as IMF unlocks US$12 billion in immediate funding and Argentina lifts capital controls in 48-month US$20-billion programme.

FIN DE CEPO?

Caputo announces new IMF deal, end to exchange controls

11-04-2025 18:45 President Javier Milei's government announces elimination of foreign exchange controls ahead of confirmation of new US$20-billion IMF programme.

BEYOND THE HEADLINES

'Cepo' in review

22-03-2025 07:53 It might well be argued that the ‘cepo,’ the seemingly endless set of currency and capital controls, has been a bane of Argentina’s existence.

by Michael Soltys

ANALYSIS: SHOCK THERAPY

All the currency, capital controls Milei needs to end this year

05-03-2025 12:00 Javier Milei has taken several steps to ease restrictions during his first year in office, but he entered 2025 with few indications that there will be a quick unwinding of the rules.

NEW IMF DEAL ON WAY?

IMF: ‘Constructive discussions’ ongoing with Argentina over new deal

06-02-2025 22:59 Markets move on rumours of new deal with the International Monetary Fund, which again praises “enormous progress” made by Milei administration.

‘CEPO’ NO MORE?

President sets 2026 target for removal of currency controls

04-02-2025 15:47 La Libertad Avanza leader says his government will remove capital controls by start of 2026 – unless the IMF grants Argentina fresh funds beforehand.

MONETARY POLICY

Argentina weighs managed exchange rate once it lifts currency controls

16-12-2024 19:44 President Javier Milei's government is weighing whether to introduce a managed exchange rate regime — a “dirty float” — once it lifts its current foreign exchange controls in 2025.

President's address

Milei vows to axe capital controls and negotiate Trump trade deal

11-12-2024 09:50 President Javier Milei promises to lift capital and currency controls next year and negotiate a free-trade agreement with the United States once Donald Trump takes office.

MILEI'S FIRST YEAR

Milei promises inflation will be a 'bad memory' in first anniversary speech

10-12-2024 23:45 President touts US trade deal with Trump, vows to remove currency controls and says “happy times” lie ahead in national broadcast marking first year in office.

CAPITAL CONTROLS

Trump adviser Laffer tells Argentina ‘get it done now’ on capital controls

03-12-2024 15:19 Arthur Laffer has a word of advice for Argentina: Scrap capital controls now.

Investing in Argentina

Milei touts US$50 billion from investors eyeing 30-year loopholes

02-12-2024 13:04 Argentina has abundant natural resources and legions of well-educated workers. But it struggles to attract investors because its politicians have a habit of changing the rules on a whim.

BLOOMBERG - ANALYSIS

Javier Milei is giddy about Trump and his own accomplishments

18-11-2024 17:23 Almost one year into office, Javier Milei is, to the shock of pundits, having a moment. Not only does he have an ally back in the White House but on the economic front, he’s been racking up the victories.

ECONOMIC REPERCUSSIONS

Dollars, IMF, cepo – Economy Ministry’s expectations after Trump triumph

06-11-2024 23:59 The government is betting on ideological overlap between Milei and Trump helping Argentina to obtain the financing required to face the need for dollars.

by Ezequiel Orlando

CAPITAL CONTROLS

Why Milei can’t lift currency controls any time soon

16-10-2024 12:15 Argentina has had strict currency controls in place for the past nine out of 13 years. President Javier Milei wants to get rid of them, but for now, he's sticking to the existing regime.

CAPITAL CONTROLS

Government to adopt flexible exchange rate after lifting controls

15-10-2024 23:17 Milei states at conference that government will adopt a “flexible” exchange rate on the peso after it lifts capital controls.

FOREIGN CURRENCY RESERVES

Milei’s push to rebuild Argentina’s foreign reserves grinds to a halt

26-06-2024 23:36 Argentina's Central Bank is struggling to rebuild its chest of foreign reserves as it starts to spend money in currency markets to defend controls propping up the peso.

OIL & GAS

Oil driller’s 1,400% world-beating rally hinges on Milei reforms

23-05-2024 13:52 Vista Energy boss Miguel Galuccio knows shale. But his plans lie in the hands of President Javier Milei.

ECONOMY

Milei says Argentina is ‘very close’ to lifting FX controls

15-05-2024 17:00 “The truth is that we’re very close to lifting” currency controls, Milei said Wednesday at a conference in Buenos Aires, without providing more specifics on timing.

CURRENCY CONTROLS

Argentina to offer bonds in first step to lift currency controls

26-04-2024 13:33 President Javier Milei's government readying a new instrument to allow companies to send dividends abroad, a first step to lift a cobweb of restrictions in its foreign-exchange market.

BLOOMBERG

Caputo speech at JPMorgan event helps propel Argentine bonds

18-04-2024 13:18 Argentina won’t lift capital controls until international reserves are high enough to safeguard against a potential currency run, Luis Caputo tells investors.

ECONOMIC POLICY

Milei sets June deadline for lifting of capital controls

08-02-2024 06:24 Casa Rosada has a list of conditions required and assures that the dollar can be kept to around 1,000 pesos.

PRESIDENT MILEI

Argentina rally put to test as challenges await Milei

09-12-2023 08:47 Investors’ giddiness with Argentina will be put to the test as Javier Milei takes over on Sunday.

FX MARKET

Gov't depletes room to intervene in currency futures ahead of election

20-10-2023 16:47 Central Bank almost out of room to intervene in currency futures, the main avenue it’s been using to prop up the plunging peso.

THIRST FOR DOLLARS

A guide to Argentina’s many exchange rates

10-08-2023 08:44 Anxiety is showing in markets just days before a key primary vote that will decide who are the candidates for the October 22 election.