Argentina Dollarization Is Medium-Term Goal, Caputo Tells Bankers
- Caputo says Milei won’t lift capital controls right away
- Milei’s pivot away from dramatic promises welcomed by markets
Customers wait in line at a Western Union in Buenos Aires, Argentina. The government of Javier Milei won’t lift currency controls immediately after taking office on Dec. 10.
Photographer: Erica Canepa/BloombergThe government of Javier Milei won’t lift currency controls immediately after taking office on Dec. 10, while keeping dollarization as a medium-term goal for Argentina, a key member of the president-elect’s team told bankers Friday, according to two people familiar with the conversation.
Luis Caputo, who is leading Milei’s economic team during the transition, told banking executives in Buenos Aires the new government’s focus will be reaching a fiscal surplus in 2024, the people said, asking not to be named discussing private conversations. The meeting, which the Wall Street veteran used to introduce the main lines of Milei’s economic plan, included about 30 people between advisers and bank officials, they added.