Bye-bye BCRA?

An Argentine presidential candidate proposes abolishing the central bank and the peso

The Central Bank of Argentina
The Central Bank of Argentina
Photo: Javier Pierini

Managing the Central Bank of Argentina (BCRA) is a thankless job. The peso has lost almost half its value at the official rate over the past year. The unofficial exchange rate is usually around twice the official one.

Because exporters can get a better price for dollars on the informal market, the central bank’s international reserves are perpetually near exhaustion. Inflation was 114.2% year on year in May, official statistics show.

In a bid to channel dollar flows, the BCRA has for several

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