Argentina’s libertarian President Javier Milei is promising to lift the country’s strict capital and currency controls this year, starting the clock on a high-risk mission that is essential to his revival of the troubled economy.
The controls, which limit individuals’ and companies’ access to dollars and set an official exchange rate, have been in place for nine of the past 13 years. Foreign businesses say they are a huge hurdle to investment in Argentina, even as Milei’s free market reform drive piques their interest.
Milei is seeking an IMF loan to help him lift the controls, but says he will do so by the end of this year regardless.
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