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Milei Prepares Police Overhaul and Eases Rules on Undeclared Dollars

The government will present a new investigative-focused Federal Police structure with legal safe harbor for spending undeclared dollar holdings

Overview

  • An act is scheduled next Tuesday to launch the “Hacia una PFA moderna y orientada hacia la investigación” program under Security Minister Patricia Bullrich’s initiative to expand investigative powers and streamline command of the Federal Police
  • Economic teams finalized a regulatory regime enabling citizens to declare and spend “dólares del colchón” without ARCA penalties by filing a sworn declaration and gaining legal protection
  • The IMF lauded Argentina’s short-term US$2 billion loans and dollar-denominated debt issuances as an important step to rebuild reserves even as Buenos Aires informed the Fund it will miss its 2025 reserve and current-account targets
  • Governors of Córdoba, Santa Fe and Entre Ríos publicly rejected the restoration of full export duties on soy, corn, sunflower and sorghum, heightening federal-provincial strains over trade levies
  • National officials conducted Zoom sessions with 17 provincial leaders to outline the dollar liberalization plan and secure formal provincial support ahead of formal legislation