New tax on the rich will raise around $3 bn

The new tax on the rich in Argentina will cover an estimated 12,000 people, and the Government hopes it will raise around $3 billion – which will also be used to fund scholarships and social aid. Argentina has introduced a one-off tax on its richest people to help pay for medical supplies and relief for businesses struggling under the weight of the coronavirus pandemic.

Argentina to issue $227.77 mn in bonds

The Ministry of Economy announced a new tender of two Treasury bills and a Treasury bond for today, in which it seeks to raise about Ar$20 billion ($227.77 million). A Lede bill maturing on 30 June for Ar$5 billion ($56.94 million), a Lepase bill maturing on the same day for another Ar$5 billion and a bond maturing on 6 February 2023 for Ar$10 billion ($113.88 million) will be issued,

Capital flight in 2020 reached $3.054 billion

The level of capital flight in Argentina reached $3,054 billion in 2020. The total amount of money that went abroad or formation of foreign assets of the non-financial private sector (FAE) reached $3,402 billion, to which $3 million must be added for direct investments by residents abroad. The repatriation of capital amounted to $352 million.