Between the end of September and so far in November, deposits in pesos grew slightly more than US$14,000 million, but the amount of money declared exceeded US$20,000 million.
He bleach of capitals is an unexpected success in terms of the levels reached by cash statements. Before the process began in the market, it was thought that it would be very good if US$4,000 million could be brought in, but the reality is that, according to data from the Customs Collection and Control Agency (ARCA), US$20,361 million were deposited.
Now, if the amount of dollar deposits from the private sector reported by the Central Bank (BCRA) as of September 30 is compared and contrasted with those in the banks Until November 15, private sector deposits in banks grew US$14,305 million, which means that the difference, US$6,326 million, has already left the system banking. They are probably invested in bonds or properties, depending on the use that could be given to them, in accordance with the laundering rules, for those who regularized more than US$100,000 and did not want to pay the 5% special tax.
That is to say that, at the moment, approximately 30% of the declared money is no longer deposited, which reduces the chances that the BCRA can add gross reserves in the coming months.
Calculations indicate that, since November began, On average, they are spending about US$97 million per day. Since it started the month, deposits decreased by US$1,077 million according to the latest data from the BCRA.
Laundering less successful than in 2016
According to the brokerage company Facimex, the 2024 whitewash has magnitudes lower than that of 2016-2017except for cash. With data as of April 3, 2017, the AFIP had reported that 475,000 taxpayers (3.4 times more than the current money laundering) they regularized assets for a total of US$116.8 billion (five times).
On that occasion, 167,000 properties were laundered (11.3 times more) and only US$7.7 million were cash (0.37 times). At that time, the collection corresponding to money laundering was significant, for an amount equivalent to US$9,522 million or 1.8% of GDP. The current money laundering numbers may continue to improve since it is valid until May of next year.
In detailthe second stage runs from November 9 to February 7, with a limit until March 7 to pay the 10% rate; while the third stage goes from February 8 to May 7, with a limit until June 6 to pay the 15% rate.
Facimex points out that “in the three rounds after the first stage of laundering, dollar deposits from the private sector showed a net drop of US$433 million with a dynamic that has been decelerating at the margin (US$202 million on November 11 , US$181 million on November 12 and US$50 million on November 13).
Source: Ambito
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