Economy Minister and presidential candidate Sergio Massa said that he will eliminate currency restrictions at the end of 2024 if he wins the November 19 run-off election. The currency restrictions are known in Spanish as the cepo. “We will eliminate the cepo when 2024 ends and we have enough dollar reserves for trade to flow freely, while also not having to strain our reserves,” Massa said. Lifting currency restrictions was one of the main campaign promises of right-wing candidates Javier Milei, who will compete against Massa in the November 19 run-off, and Patricia Bullrich. Currency restrictions have been in place, on and off, for the past decade, through former Presidents Cristina Fernández de Kirchner and Mauricio Macri’s governments.

Source: Bueno Aires Herald November 06, 2023 18:49 UTC