To continue taking care of the dollars, it is necessary to continue improving customs control to limit over-billing, storage and other irregularities, especially in terms of services.”
Argentine Government
The Argentine economic team put on the table in the discussion with the International Monetary Fund (IMF) a series of measures to preserve reserves as a counterpart to the special exchange rate to export more and add foreign currency.
The $300 dollar for certain exports that will be announced and that El Cronista anticipated will also be applied “to a part of imports, including tourism and transportation services,” they anticipated from the Government among other measures that were reviewed in Washington DC . The differential exchange rate, in this way, would extend to the purchase abroad of certain goods.
Tourism and transport
In official offices they aim to discourage the purchase of luxury products, but also to unify the price of service dollars. From the Netflix dollar to Qatar, the plan is for the importing dollar to offset the higher supply generated by the special dollar for agricultural exporters.
Changes in taxes for imports
Sergio Massa’s team agreed in talks with IMF staff and deputy director Gita Gopinath to begin simplifying the current exchange rate regime, “by rationalizing the various taxes that are currently charged on imports of goods and services.”
Last week the Executive made progress with a change in the perceptions of AFIP on Profits and VAT for imports that represents a 26% increase in the cost of purchases abroad and that generated strong claims from the private sector. Meanwhile, imports of consumer goods fell 10% last month, 7% due to quantity and 3% due to price. Purchases abroad in general fell 10.4% in February and 4% so far this year according to the latest data from INDEC.
Stock control and triangulation
The third point on which the Government focused on the care of dollars was “to continue improving customs control to limit over-invoicing, storage and other irregularities, especially in terms of services.” The sight is set on freight payments and the “leakage” of foreign currency through this route.
“In view of the drought, a drop in the level of exports of 15,000 million dollars is expected,” according to LCG.
“Although the measures announced regarding differential exchange rates for soybeans and regional economies may encourage a liquidation of currencies, we understand that this will alter its seasonality, but will not add liquidated balances” for which they provide for more regulation of imports. In February, only 67% of what was effectively imported was paid, 16 points less than a year ago.
