In a conference led by presidential spokesperson Manuel Adorni and the Minister of Economy, Luis "Toto" Caputo, the Government announced the launch of the “Historical Savings Restoration Plan for Argentinians”, a measure that seeks to leave behind years of currency and fiscal controls considered “persecutory.” The program will be implemented in two stages: one by decree and another through a bill that will be sent to Congress.
The Minister of Economy, Luis Caputo, leads this initiative aimed at reformulating the current regulatory framework, which the government accuses of discouraging formal savings in foreign currency. “This ends today,” Adorni stated, referring to a system that, in his words, “treated all Argentinians as if they were potential criminals.”
Criticism of the currency clamp and excessive fiscal control
The announcement included strong criticism of the foreign exchange control regime implemented in previous years. Adorni highlighted that the currency clamp was in effect for almost a decade and denounced that it equated buying dollars to a criminal act: “It put those who wanted to buy more than 200 dollars on the same level as a criminal like Al Capone.”
Meanwhile, the official questioned the use of state resources in financial surveillance mechanisms. “The fiscal voracity led us to waste resources on monitoring a person for buying a blender,” he quipped, while revealing that the UIF audited just 0.34% of suspicious transactions.
