5 ms·

From 2015 to 2019 the Argentina peso was fully convertable - there wasn't any currency controls.

• brobinson 4y ago
  Yeah, this. They oscillate between currency controls and no currency controls. Left wing government -> currency controls Right wing government -> currency controls removed
  • frozenlettuce 4y ago
    It is worth mention that Macri's government had controlled prices - but still "right wing" for Argentina's standards. Combine that with a 55% workforce being employed by the government and a culture of printing money https://en.mercopress.com/2020/07/27/in-argentina-55-of-all-registered-workers-are-employed-by-government https://en.mercopress.com/2020/07/27/in-argentina-55-of-all-... As they say, the world has developed nations, developing nations, Japan and Argentina.
  • justbored123 4y ago
    [dead]
• initplus 4y ago
  But during that time period people (wisely) saw that currency controls were still on the table in the future, and acted as such. The fact that they the controls are expected to return has a chilling effect. When you remove currency controls you need to convince the public that in fact they controls are gone for good and never coming back. Such a thing was done in my home country in the mid 80s, and we have had a much more stable currency and economy since.