Argentine authorities have allowed the prices of goods and services to be quoted in dollars, according to a decree published by the Ministry of Economy.
“In addition to pesos, prices may be displayed in US dollars and other foreign currencies,” the document states.
Argentine Economy Minister Luis Caputo announced on Twitter (X) that the customer will be able to choose in which currency to pay.
However, there is no indication of the exchange rate at which the prices should be expressed in dollars.
In Argentina, there are official and parallel exchange rates on the black market. Argentine President Javier Millay, who came to power in December 2023, promised a “dollarization” policy in Argentina during the election campaign.
Let us remind you that the Argentine economy has come out of recession since it recorded a quarterly growth of 3.9 percent in the third quarter of 2024, which is better than the forecasts of analysts who expected a growth of 3.4 percent, reports Bankar me.
Argentine President Javier Millay, who was elected to office in November last year, promised voters that he would end poverty and hyperinflation with drastic measures such as a significant reduction in the number of civil servants and a freeze on public projects.
The new measures led to a drop in the standard of living of the population and the loss of hundreds of thousands of jobs in Argentina. However, wages have begun to outpace inflation, jobs are gradually being restored, and poverty levels are falling.
