Argentina to Offer Bonds in First Step to Lift Currency Controls
- Plan would allow $5 Billion in Dividends to Leave Country
- Central Bank to offer dollar bonds due in 2026 to companies
Argentine authorities intend to release foreign exchange controls gradually, but as soon as possible.
Photographer: Erica Canepa/BloombergThis article is for subscribers only.
Argentina is readying a new instrument to allow companies to send dividends abroad, a first step to lift a cobweb of restrictions in its foreign-exchange market.
The central bank announced Thursday it is planning to offer companies the same type of dollar-denominated bond, known as “BOPREAL,” it has been selling to importers. The series offered to companies will mature in 2026 and could be auctioned on May 6, the bank said in a statement.