BUENOS AIRES, Argentina, Jan 3, 2026 (BSS/AFP) - Argentine President Javier Milei on Friday signed into law a so-called "tax innocence" bill, which aims to encourage people to bank dollars stashed under mattresses or in offshore accounts by forgiving a degree of tax evasion. Over years of high inflation and currency controls, Argentines traded their battered pesos for dollars, which they often hoarded at home, in cash. The government estimates Argentines are sitting on some $251 billion in what are commonly called "mattress dollars" -- six times the Central Bank's reserves which stood at $41 billion on December 30. Opposition leaders, however, warned that the initiative would turn Argentina into a money laundering mecca. The funds were frozen in special accounts until Friday, when owners gained the right to freely dispose of them.

Source: Bangladesh Sangbad Sangstha January 03, 2026 11:56 UTC