Argentinian central bank puts cap on imported luxury goods
BCRA bids to preserve foreign currency as international reserves decline to $39.4 billion
The Central Bank of Argentina has put a cap on imported luxury goods on January 6 in a bid to preserve dollars in the country.
The rules affect purchases of products such as high-end cars and motorcycles, private jets worth over $1 million, recreational boats, beverages including champagne, whisky, liqueurs and other spirits priced above $50 a litre.
Importers will have to secure financing abroad, or wait a year to obtain financing for these purchases. The measure is applicable to all goods
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