New Central Bank Rules

Argentine economist Jose Luis Espert comments on new central bank regulations aimed at supporting the peso and foreign currency reserves. The measures seek to protect reserves as the government fails to secure a new loan agreement from the International Monetary Fund, analysts said.

"Because the government finds itself unable to reach an agreement with the International Monetary Fund it now degrades its economy even further by imposing capital controls.“This government is not making the necessary economic reforms. This move is a silly substitute for lack of economic policy-making.”

"What’s after this? I can see the state being the only one allowed to hold dollars. It’s a frightening prospect.”