Argentina May Ban Sending Profits Abroad, El Cronista Reports

Argentina’s government may ban companies, especially from the oil and mining industries, from sending their profits abroad for 180 days, newspaper El Cronista said, without explaining how it obtained the information.

The government is seeking to stem a drop in central bank reserves until May, when soybean exporters enter the high season and more U.S. dollars are brought to the South American country, the Buenos Aires-based newspaper said.

To contact the reporter on this story: Eliana Raszewski in Buenos Aires at eraszewski@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net

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