Argentina's inflation strategy draws scorn | News | Al Jazeera

Argentina's inflation strategy draws scorn

Bid to attract US dollar deposits criticised as potential incentive for money laundering and organised crime.

    The government of Argentina's President Cristina Kirchner has unveiled a plan to tackle double-digit inflation that is stifling its economy.

    The cash-strapped administration is adamant that it will not devalue the peso to stop the bleeding.

    So to tackle the problem of inflation, it wants citizens to deposit billions of undeclared US dollars into the central bank - with no questions asked. But critics say it will encourage money laundering and organised crime.

    Al Jazeera's Lucia Newman reports from Buenos Aires.

     

    SOURCE: Al Jazeera


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