Source: The Wall Street Journal
By: Christopher Whittall
Removing currency controls is one of several reforms president-elect Mauricio Macri has vowed to make in an effort to boost Argentina’s competitiveness and to lure foreign investors back to the country. Many foreign investors don’t want to get in while the peso is artificially high, fearing that they’ll be the ones to bear the brunt in a coming devaluation. But once the devaluation happens, the decks are more clear. A concurrent relaxation of currency controls would also remove a major roadblock to investors worried that they mightn’t be able to get out.
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