In that line, the minister stated that the official policy seeks to ensure that the dollars that remain outside the financial system can begin to generate returns by being incorporated into the banking circuit.
“On the other hand, we have the Fiscal Innocence law where we seek for people to start earning interest on those dollars they have had under the mattress for so long, which is not beneficial for anyone because people lose money keeping it there,” he indicated.
Caputo also suggested that greater competition among banks to attract dollar deposits could impact interest rates in pesos.
“Having a competitive rate in dollars in this currency competition can also lead to a decrease in the rate in pesos,” he noted. According to the official, this scenario will be favorable for small and medium-sized enterprises.
The flexibilization will not change a condition related to the currency operation of the loans. Caputo confirmed that the obligation to liquidate these loans through the Single and Free Exchange Market will remain in effect.
The decision seeks to prevent the new scheme from producing a multiplying effect on the demand for foreign currency and, at the same time, contribute to increasing the supply of dollars in the market.










