31 October 2011

ARGENTINA: Tax Proof Now Required To Get $USD.


     Argentina will now require those wanting to buy USD...to first prove they've paid their taxes...because tax evasion is widespread...and capital flight of $3bn per month grows.
     An estimate 34% of the economy operates with undeclared cash.
    Currency exchanges were reported almost empty.
    The government has downplayed the paperwork involved to exchange money.
     All in all...it should boost the black market exchange rate...from the current official rate of 4.26 pesos per usd...as the government copes with a dollar shortage.