Argentina raises rates 300bp and restricts access to dollars
Peso falls sharply in April as inflation soars and BCRA struggles to obtain hard currency
Argentina’s central bank raised its policy rate by 300 basis points to 81%, on April 20, amid a worsening monetary crisis.
The Central Bank of Argentina (BCRA) also restricted access to dollars for certain business payments. The BCRA must now give permission if firms want to pay interest on intra-company debts with dollars. It said the measure will stay in place until the end of this year.
Most service-sector businesses applying for dollars will now have to wait 60 calendar days to receive
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