Argentina’s economy is more proof that ratbag socialists should never be allowed control of a country’s economy.
The peso is in freefall and the Central Bank isn‚Äôt supporting it.¬† Their reserves are running out the door and they have limited people to 2 x US$25 internet buys overseas pa.¬† After that a 50% tax.
Even as it seeks to regain access to international capital markets,¬†Argentina¬†imposed new restrictions on online shopping on Wednesday in its latest attempt to curb capital flight and prevent a possible balance-of-payments crisis.
Anyone buying goods through international websites such as Amazon.com must now sign a declaration and produce it at a customs office, where the packages are collected. In addition, Argentines are only allowed to buy two international items annually, free of tax, up to a $25 total. Beyond that, they must pay a 50 per cent tax.¬† Read more »