Overview
- Bloomberg’s analysis published Sunday found foreign-currency deposits have risen by less than $1 billion since February despite an official estimate of about $170 billion held off the books.
- The Inocencia Fiscal program, in force since February, promises confidentiality and lower audit risk to coax hidden dollars into bank accounts.
- President Javier Milei acknowledged the limits of the policy and Economy Minister Luis Caputo urged savers to deposit cash instead of keeping it at home.
- Market economists, including Facimex Valores’ Adrián Yarde Buller, said a law will not change behavior without rebuilt institutions and a long stretch of stability.
- Many Argentines still store dollars at home or in safety-deposit boxes and even price bills by portrait style in the informal market, a habit shaped by the 2001 corralito and reinforced by repeated crises.