88m3
Fast Money & Foreign Objects
Argentina's inflation strategy draws scorn - Americas - Al Jazeera English
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more good press for your heroes
Argentina's inflation strategy draws scorn
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video in link
more good press for your heroes
88m3
Fast Money & Foreign Objects
Argentina restricts online shopping as foreign reserves drop
The economy has grown during Fernandez's government, but inflation has reached double figures
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Anyone buying items through international websites will now need to sign a declaration and produce it at a customs office, where the packages have to be collected.
The procedure will need to be repeated for every new purchase.
Argentina's reserves of hard currencies dropped by 30% last year.
The government of President Cristina Fernandez de Kirchner has introduced a number of restrictions on transactions with foreign currency.
Items imported through websites such as Amazon and eBay are no longer delivered by post to people's home address. They need to be collected at the customs office.
In the past two years, the government has introduce restrictions on buying dollars
Each individual is allowed to buy up to $25 (£15) a year from abroad tax free, but it has been hard for custom officials to keep accurate records of each consumer.
Once the $25 level is reached, online consumers in Argentina need to pay a 50% tax for each item bought from international websites.
Currency controls
The government hopes that new declaration will make it easier for customs officials to enforce the import tax, says the BBC's Ignacio de los Reyes in Buenos Aires.
New currency controls were introduced a week after Ms Fernandez was re-elected in 2001.
Among the restrictions introduced more recently are a 35% tariff on any credit card transaction abroad.
Despite the government's efforts, Argentina's reserves are now below $30bn (£18bn) - their lowest level since 2006.
Currency controls, which were common in most countries until the mid-80s were dropped in Argentina in 1991. Finance minister Domingo Cavallo pegged the local currency, the peso, to the dollar.
The plan collapsed 10 years later, when the government was forced to devalue its currency.
The country eventually froze bank accounts and defaulted on its debts. It has since struggled to attract foreign loans at market rates.
http://www.bbc.co.uk/news/world-latin-america-25836208#FBM330922
Continue reading the main story
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Anyone buying items through international websites will now need to sign a declaration and produce it at a customs office, where the packages have to be collected.
The procedure will need to be repeated for every new purchase.
Argentina's reserves of hard currencies dropped by 30% last year.
The government of President Cristina Fernandez de Kirchner has introduced a number of restrictions on transactions with foreign currency.
Items imported through websites such as Amazon and eBay are no longer delivered by post to people's home address. They need to be collected at the customs office.
Each individual is allowed to buy up to $25 (£15) a year from abroad tax free, but it has been hard for custom officials to keep accurate records of each consumer.
Once the $25 level is reached, online consumers in Argentina need to pay a 50% tax for each item bought from international websites.
Currency controls
The government hopes that new declaration will make it easier for customs officials to enforce the import tax, says the BBC's Ignacio de los Reyes in Buenos Aires.
New currency controls were introduced a week after Ms Fernandez was re-elected in 2001.
Among the restrictions introduced more recently are a 35% tariff on any credit card transaction abroad.
Despite the government's efforts, Argentina's reserves are now below $30bn (£18bn) - their lowest level since 2006.
Currency controls, which were common in most countries until the mid-80s were dropped in Argentina in 1991. Finance minister Domingo Cavallo pegged the local currency, the peso, to the dollar.
The plan collapsed 10 years later, when the government was forced to devalue its currency.
The country eventually froze bank accounts and defaulted on its debts. It has since struggled to attract foreign loans at market rates.
http://www.bbc.co.uk/news/world-latin-america-25836208#FBM330922
88m3
Fast Money & Foreign Objects
Argentine peso suffers steepest fall since 2002 crisis
In the past two years, the government has introduced restrictions on buying dollars
Continue reading the main story
Related Stories
The peso fell 11% to stand at an official rate of eight pesos to the dollar. Unofficially, the rate is 13 pesos to the dollar.
The central bank had been acting to support the waning currency but this week all but gave that up.
Investors have lost confidence in the country. Despite efforts to support the economy, inflation has soared to 25%.
Officially, the inflation rate is lower than that, but government data is not seen as entirely credible by those in the country nor the wider investment community.
This year inflation is expected to top 30%.
That erodes confidence in the peso, prompting investors to put their money into US dollars rather than the sinking domestic currency.
Restrictions
Under the presidency of Cristina Fernandez de Kirchner, Argentina has introduced a number of restrictions on transactions with foreign currency.
This week it even introduced new restrictions on online shopping as part of increasingly desperate efforts to stop foreign currency reserves from falling any further.
Anyone buying items through international websites must sign a declaration and produce it at a customs office, where the packages have to be collected.
The government now limits tax-free purchases to two a year.
Argentina's reserves of hard currency dropped by 30% last year, making support for the peso increasingly unaffordable.
In 2002, millions of Argentines saw their incomes and living standards collapse amid a crisis that included a government default on international debts and 41% inflation.
http://www.bbc.co.uk/news/business-25871675
@Domingo Halliburton time to sponsor some greencards
Continue reading the main story
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- Argentina restricts online shopping
- Economy woes pile up for Latin left
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The peso fell 11% to stand at an official rate of eight pesos to the dollar. Unofficially, the rate is 13 pesos to the dollar.
The central bank had been acting to support the waning currency but this week all but gave that up.
Investors have lost confidence in the country. Despite efforts to support the economy, inflation has soared to 25%.
Officially, the inflation rate is lower than that, but government data is not seen as entirely credible by those in the country nor the wider investment community.
This year inflation is expected to top 30%.
That erodes confidence in the peso, prompting investors to put their money into US dollars rather than the sinking domestic currency.
Restrictions
Under the presidency of Cristina Fernandez de Kirchner, Argentina has introduced a number of restrictions on transactions with foreign currency.
This week it even introduced new restrictions on online shopping as part of increasingly desperate efforts to stop foreign currency reserves from falling any further.
Anyone buying items through international websites must sign a declaration and produce it at a customs office, where the packages have to be collected.
The government now limits tax-free purchases to two a year.
Argentina's reserves of hard currency dropped by 30% last year, making support for the peso increasingly unaffordable.
In 2002, millions of Argentines saw their incomes and living standards collapse amid a crisis that included a government default on international debts and 41% inflation.
http://www.bbc.co.uk/news/business-25871675
@Domingo Halliburton time to sponsor some greencards
Domingo Halliburton
Handmade in USA
I tried to educate these motherfukkers in the venezuela thread. The moron who runs Argentina nationalized a Spanish (read: Spain) company.
this misguided communism is not how the world works and only hurts their people.
this misguided communism is not how the world works and only hurts their people.
Last edited:
Julius Skrrvin
I be winkin' through the scope
Domingo Halliburton
Handmade in USA
Julius Skrrvin
I be winkin' through the scope
Domingo Halliburton
Handmade in USA
Tres Leches
Empire Business
poor Argentines