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Massa Says Govt. To Provide Regional Economies With Special FX Rate

ARGENTINA
  • Economy Minister, Sergio Massa, has announced that the government is expected to deepen its complicated currency strategy in an attempt to boost exports by adding a new temporary exchange rate.
  • The new rate will apply to provincial exporters based in Argentina’s smaller provinces outside Buenos Aires that participate in a price control program. Additionally, it calls for the local governments to broker agreements between exporters and producers to guarantee domestic availability of products.
  • A ministry official said that Massa would announce the exact size and scope of the currency measure in the coming days.

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