Argentina: More controls on Internet purchases

Posted on by

Argentina: More controls on Internet purchases
January 21, 2014 22:07 GMT

BUENOS AIRES, Argentina (AP) -- Argentina's government is restricting online purchases in its latest effort to curb capital flight.

Argentines wanting to buy items over the Web must now get government approval first.

The measure published Tuesday in the official gazette seeks to reduce the amount of dollars leaving Argentina. It applies to goods that enter Argentina using the postal service.

Argentina's economy is suffering from a dollar shortage and its foreign reserves recently plunged to their lowest level in more than seven years.

The government can't attract international loans at market rates after the country's 2001-2002 economic collapse and uses its currency reserves to meet foreign debt payments.

Authorities have been imposing currency controls meant to stem capital flight since 2011, making it difficult to legally trade pesos for dollars.

Sponsored Content


Open bundled references in tabs:

Leave a Reply