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LatinNews Daily - 17 December 2015
Argentina: Macri takes another bold decision and fully dismantles the ‘cepo cambiario’
Development: On 16 December Argentina’s finance minister, Alfonso Prat-Gay, announced that the government led by President Mauricio Macri had decided to eliminate all the foreign currency controls, locally known as the ‘cepo cambiario’, introduced by the preceding Cristina Fernández administration (2007- December 2015) in one fell swoop in order to move towards a single floating exchange rate managed by the central bank (BCRA).
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