Prior to the money laundering, the Argentines had already lowered the amount of dollars outside ARCA’s control. What happened at the end of the third quarter.
At the end of the third quarter of 2024, Argentines kept a total of US$229,982 million outside the financial systeman amount lower than that recorded before the laundering, when they reached US$243,841 million. This decrease is explained by the first phase of the Asset Regularization Regime, which began in September and ended on November 8.
According to INDEC datathe external assets of the non-financial private sector —which include both companies and households— totaled US$454,886 million at the end of September. Most of these assets are made up of cash in foreign currency, but they also include deposits, stock assets abroad, property outside the country and other investments.
In particular, Argentines’ holdings of cash and deposits in dollars reached US$261,427 million at the end of the third quarter. Of this figure, US$31,445 million corresponded to deposits registered by the Central Bank in bank accounts within Argentina.
dollars mattress bleaching
Depositphotos
This means that, at the end of September, Argentines owned approximately US$229,982 million outside the system local financial This amount includes both bank accounts abroad and money in safe deposit boxes in Argentina and the well-known “dollars in the mattress”, off the radar of the Customs Collection and Control Agency (ARCA).
This data reflects the impact of the first phase of the laundering, showing a drop compared to the second quarter, when the Argentines had US$243,841 million outside the financial system.
The INDEC report highlights that movements in external assets reflect a significant decrease in funds from other sectors, which was offset by a similar increase in deposit-taking companies (excluding the Central Bank). Specifically, While the other sectors saw a drop of US$10,858 million, collecting societies increased by US$11,086 million. These changes would be related to asset regularization operations under Law 27,743, as explained in the report.
Source: Ambito
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