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2h ago

Argentina Temporarily Scraps Export Duties on Grains and Meats to Unlock Dollars Through Oct. 31

The policy targets rapid currency liquidation under tight rules, with analysts warning of a roughly US$1 billion 2025 hit that could imperil IMF targets.

Guillermo Francos recibió a congresistas de Estados Unidos.
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El costo fiscal de la medida no pone en juego el equilibrio de las cuentas públicas, pero puede llevar a incumplimientos con el FMI
El Gobierno apunta a que la quita de estas retenciones promueva mayores niveles de apertura comercial y libertad económica

Overview

  • Decrees 682/2025 and 685/2025 set export duties at 0% for key grains and selected beef and poultry until October 31, subject to a US$7,000 million liquidation cap.
  • Exporters must sell at least 90% of proceeds within three business days or lose the benefit and face reinstated rates and sanctions.
  • IARAF estimates the 2025 fiscal cost near US$1,000 million (≈0.15% of GDP), equal to roughly 46% of the projected financial surplus, raising IMF compliance risks.
  • Markets rallied after the announcements and signals from Washington, with the dollar retreating and bonds jumping as U.S. Treasury chief Scott Bessent said support options are under consideration.
  • Political critics labeled the step electoral and uneven in impact, and regional farm leaders in the north said limited stocks restrict their ability to benefit, while Argentina still faces over US$3,000 million in near‑term foreign‑currency maturities.