Argentina's government on Thursday unveiled an ambitious scheme to bring billions of undeclared U.S. dollars tucked under mattresses or stashed in foreign bank accounts back into the crisis-prone country, as libertarian President Javier Milei seeks to boost Argentina's low international currency reserves and stimulate the limping economy.
By eliminating tax reporting requirements, the plan invites savers — who long have swapped their depreciating pesos for American currency in the country's underground market — to spend unreported dollars on everyday transactions at home. The government won’t ask questions regarding the source of the repatriated funds, officials promised.
