Central Banking

Argentina restrict amount of cash bank withdrawals

ARGENTINA - The Argentine government, desperate to stop a hemorrhaging of funds from the banking system, capped cash withdrawals from banks and limited the amount residents may transfer abroad.

According to the central bank, Argentines will be allowed to withdraw a maximum of $250 a week in cash from banks. All other payments will have to be made via check, credit card, debit card, or wire transfer. Residents will be permitted to transfer abroad up to $1,000 a month in cash; any payments larg