Hernán Lacunza, the Economy Minister of former president Mauricio Macri’s administration, said it’s “impossible” to eliminate the currency restrictions from one day to the next. In December of that year, a few days after former president Mauricio Macri took office, it was announced that all currency controls were being eliminated. And then you can eliminate the cepo,” but that wouldn’t mean doing it from one day to another, he said. “Lifting the currency controls in a day, or dollarizing the economy, are unfeasible shortcuts. Lacunza took his place, and, together with Central Bank president Guido Sandleris, decided to bring back the cepo shortly afterwards.

Source: Bueno Aires Herald June 28, 2023 20:22 UTC