From Yahoo Finance: 2025-05-16 06:12:00

In Buenos Aires, President Milei’s economic reforms have lifted currency controls, allowing locals and companies to access dollars more easily. This change is part of a larger effort to revive Argentina’s economy and attract investors. However, black market traders, known as “arbolitos,” are struggling as official and black market exchange rates converge.

The end of capital controls aims to boost trade and stabilize the economy. With the recent IMF deal and increased investor interest, Argentina is on a path to recovery. While tourism has declined due to higher prices, informal workers and business owners still rely on the black market to avoid taxes. Many Argentines have lost the ability to save and invest in dollars due to stagnant incomes and rising costs.

Despite challenges, Milei’s reforms have reduced inflation but have not translated into real wage growth for workers like teachers. Uncertainty about making ends meet has hindered many from investing in dollars. The government’s push to stimulate the economy through policy changes is met with mixed reviews among citizens and traders in Buenos Aires.

Read more: Argentina’s black market for dollars falters as currency controls are eased