Posts
Continuing to again reduce capital flight...President Cristina Fernandez has slashed daily cash transactions... from 10,000 pesos...to a mere 1,000 pesos/$230 usd...per person.
Transactions above that level must be conducted in central bank authorized and monitored bank accounts.
Capital flight was $18 bn usd for the first 9 months of 2011...and set a decade old record in Q3.
Trading currency on the black market is now punishable for up to 8 years under a new anti-terrorist law.
