Argentina’s government will lift import restrictions on staple foods and other basic goods in a bid to lower inflation, it announced on Tuesday. Until now, the Central Bank disbursed the money in four installments, 30, 60, 90, and 120 days after the import was done. Charges for additional value added tax (VAT) and income tax payments on these imports will also be postponed for 120 days. Caputo said companies “overpriced” their products on the expectation that inflation would be higher than it is, and are now seeking to sell stock without lowering prices. The minister said companies should be “sincere” with their pricing, rather than seeking to offload overpriced stock through contrived special offers.

Source: Bueno Aires Herald March 13, 2024 02:15 UTC