Panic movements in Argentina

Another panic move from the government of Argentina for the second consecutive day, with strict restrictions on currency transactions, putting even greater barriers to the market products through the internet. This escalation of an effort to halt the decline in reserves in dollars, said the newspaper of Bloomberg. Therefore, according to the government’s decision, the maximum purchase limit products imported into the country through electronic purchase using a credit card, is reduced to two. At the same time, according to Bloomberg, the government decided yesterday to significantly increase bureaucracy for online purchases in order for this to work as a disincentive to potential buyers.

Αrgentina

Αrgentina

Αrgentina

Αrgentina

Given the large increase in the use of these channels, which makes it more difficult to customs controls must be imposed measures in order to have better information on shipments of products, underlines the government’s decision. The last two years of government, the president Cristina Fernandez de Kirchner has run out of options, as reserves are depleted and investors lose their confidence about their ability to normalize its relations with foreign creditors, reports Bloomberg in the head strategy Jefferies, Siobhan Morden. The current restrictions, one of more than thirty, imposed by the government of Kirchner in 2011, undermine the credibility of the country, he says.

By Nicole P.

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