Argentina aims to legalize billions of dollars in undeclared funds
Government spokesman Manuel Adorni announced that through a decree and a draft law, capital controls in the South American country are to be significantly relaxed. The goal is to encourage savers to bring their reserves, whether in cash or held abroad, back into the official economic system. 'We need more liquidity for the economy. If we achieve this, growth will be sustainable,' said Economy Minister Luis Caputo. A considerable part of the economy in Argentina operates outside the tax system. (DPA)
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