{"id":1679776,"date":"2022-10-08T17:51:45","date_gmt":"2022-10-08T21:51:45","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1679776"},"modified":"2022-10-08T17:52:42","modified_gmt":"2022-10-08T21:52:42","slug":"argentina-to-tighten-import-controls-to-preserve-dollars","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/argentina-to-tighten-import-controls-to-preserve-dollars\/","title":{"rendered":"Argentina to tighten import controls to preserve dollars"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fargentina-to-tighten-import-controls-to-preserve-dollars%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1679776&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Eliana Raszewski<\/p>\n<p>BUENOS AIRES (Reuters) \u2013     Argentina will regulate import authorizations more closely in an effort to prevent fraud and preserve reserves of U.S. dollars, Economy Ministry sources said on Saturday. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>The new system will include verification that the size of an importer\u2019s request is consistent with its financial resources; requiring importers to designate only one bank account for foreign trade and more precise timing for importers\u2019 purchases of hard currency from the central bank, the sources said.    <\/p>\n<p>The government will publish a detailed resolution in the coming days and it will take effect on Oct.  17.    <\/p>\n<p>\u201cThis is to bring order to the system and avoid irregularities,\u201d said one of the sources familiar with the plan.    <\/p>\n<p>Given limited central bank reserves of U.S. dollars, the government wants to make sure that hard currency is used for approved imports that increase domestic output. <\/p>\n<p>The reserves stand at $36.55 billion, the central bank reported Thursday.    <\/p>\n<p>In Argentina, the dollar is worth 88% more in Argentine pesos in alternative financial markets than under the official rate, which is used to pay for imports. This entices some  importers to overcharge or duplicate authorization requests, said one of the sources.    <\/p>\n<p>\u201cGiven the gap, it is very tempting to access the dollar in the official market, which is why there are schemes to accumulate unnecessary inventory,\u201d explained the official, who asked not to be identified. \u201cSome importers improperly try to obtain as many goods as possible using the official dollar.\u201d     <\/p>\n<p>The new system will also allow small and medium-sized companies to reduce the timeframe for import payments from 180 days to 60 days.<\/p>\n<p> (Reporting by Eliana Raszewski in Buenos Aires; Translation by Jackie Botts in Mexico City; Editing by Cynthia Osterman)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/argentina-to-tighten-import\/attachment\/file-photo-u-s-one-hundred-dollar-notes-are-seen-in\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI9709G-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9709G-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Eliana Raszewski BUENOS AIRES (Reuters) \u2013 Argentina will regulate import authorizations more closely in an effort to prevent fraud and preserve reserves of U.S. dollars, Economy Ministry sources said<\/p>\n","protected":false},"author":66,"featured_media":1889609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1679776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/argentina-to-tighten-import\/?utm_source=rss&utm_medium=rss&utm_campaign=argentina-to-tighten-import","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1679776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1679776"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1679776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889609"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1679776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1679776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1679776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}