Capital flight dropped to $60mn in January the lowest in almost a decade

The net formation of external assets of Argentine residents, known as 'capital flight', was $60 million in January, the lowest level in almost a decade, according to the last exchange balance of the Central Bank (BCRA). The 'services' account registered a currency outflow of $26 million, a sharp reduction compared to $686 million in the same month of 2019. Argentina capital flight broke the historical record in 2018 with an outflow of $27.3 billion that year.

Macri’s era registered a capital flight of $88.4 billion

The “formation of external assets of the non-financial private sector” last December was negative ($153 million) for the first time in three years, according to data from the Central Bank (BCRA) Exchange Balance. What is known as "capital flight" totalled $26.9 billion in 2019, just 1% below the 2018 historical record, and between December 2015-November 2019, was $88.4 billion, almost double the current BCRA reserves.