The Argentine government has introduced a new initiative aimed at repatriating undeclared U.S. dollars in an effort to strengthen the country’s international currency reserves and stimulate its economy.
Announced under President Javier Milei’s administration, the plan allows Argentine citizens to use undeclared foreign currency for domestic transactions without disclosing its origin or facing tax reporting requirements.
Officials describe the measure as part of a broader economic strategy intended to boost liquidity and encourage capital to return from foreign accounts and informal domestic holdings.
The policy represents a notable shift in Argentina’s financial regulations, following past efforts such as tax amnesties and proposals for “endogenous dollarization”—a concept promoted by the Milei administration to increase the use of the U.S. dollar within the domestic economy.
Government officials say the plan is designed to address long-standing challenges, including currency instability and a preference among citizens to hold savings in U.S. dollars due to the peso’s persistent depreciation.