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08/10/2025

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08/10/2025
LAWIN.news

Argentina’s new plan to bring back $270 billion in undeclared dollars

by LAWIN.news May 24, 2025
written by LAWIN.news May 24, 2025
(FILES) This photo illustration shows Argentinian 20,000 pesos, 10,000 pesos, 2,000 pesos, 1,000 pesos, 500 pesos, 200 pesos, 100 pesos and 100 USD banknotes in Buenos Aires on January 13, 2025. The Argentina's government estimates there are about $200 billion so-called "mattress dollars" out there -- five times the reserves of the Central Bank. On May 22, 2025, President Javier Milei's government launched a plan to encourage Argentines to bank these dollars, also commonly stashed under floor boards, in safety deposit boxes or offshore accounts (Photo by LUIS ROBAYO / AFP)
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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.

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