The Minister of Economy, Luis Caputosaid on Friday night that Any company can invoice in dollars. In addition, he also revealed that a company will soon will enable debit cards to operate also in the US currency.
The announcements were made through the New Streaming Channel of the Ministry of Economya new space in which the Treasury Palace will communicate economic policies and other news. “The most important thing is to look at reality, because Argentina is a country that has lost so much credibility in terms of economic policy that People want to see results“, Caputo said.
Caputo’s clarifications on the handling of dollars
Caputo took advantage of the Ministry of Economy’s new streaming channel to talk to the public about the measures his administration has taken. In this regard, the Minister clarified: “Today You can buy dollars and pay in that currencywithout having to go through Congress, because it is absolutely legal”.
Along these lines, Caputo also said that, for example, the main motorcycle manufacturer in the country was unaware of the fact that it is possible to invoice directly in dollars. Because of this, the official He stressed the need to improve official communicationsomething that is sought to be achieved with the creation of the ministry’s streaming channel.
In addition, the Minister of Economy also anticipated that Debit cards will be enabled soon to operate in the US currency. “One of the most important cards is finishing the technical process to take out a dollar debit card“, he said.
“You will be able to pay directly with your debit card in dollars: you will not need to be debited in pesos to buy dollars. The purchase is paid directly with dollars“, Caputo explained.
According to what has transpired in the last few hours, Visa Argentina has already informed the Government that it is designing a dual currency debit card to offer to its customers. The minister clarified that the use of this card will be “ exempt from fines”.
The economic direction of the Government
With Caputo’s clarifications and announcements, the Government is moving forward with one of its central objectives for the reactivation of the economy: that the dollars that Argentines have in their safe deposit boxes begin to be used and circulatedboth those that are declared as those who are not and could enter the money laundering process.
Thus, the Minister of Economy said that “he who has dollars in the safe deposit boxyou can put them in your account and start using the debit card and they deduct from a savings account in dollars.” According to what the official explained, the same debit card can be spent in both pesos and dollars.
Luis Caputo Stream.jpg
If the expense is in dollars, the card can be linked to either a conventional dollar savings account like a Special Account for Asset Regularization (CERA). This instrument was created specifically for money laundering.
With this debit card linked to CERA accounts, Caputo said that it will be possible to “buy anything”, whenever the one who regularized his money “stay within the regularizing account highway”.
“Keeping dollars in a safe deposit box is a terrible business,” said the economist. According to Caputo, this is because today’s interest rates “They are no longer zero“or, in short, excessively negative in relation to inflation.
Regarding money laundering, Caputo said that the Government is analyzing, within the framework of the regulation of the plan that seems to add new stages, that the use of this debit card is exempt from paying the 5% fine for money laundering exceeding $100,000. “That is to say: You could regularize $200,000 and you would like to buy a car worth $50,000. If the funds are withdrawn, there would be a fine, but if you pay with a debit card, there would be no fine,” Caputo explained.
Source: Ambito
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