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mining exporters to repatriate funds in argent, page-13

  1. 24,765 Posts.
    Greendevil, there is no "hidden objective" here. You have made a post appealing to fear of the unknown.

    The objective is quite clear.

    The energy and mining sectors will be treated like other sectors of the economy that export, such as the agriculture industry, and the US dollars from their exports are brought back into Argentina, just as applies in Brazil which everyone lauds.

    By the way, what has Venezueala got to do with Argentina?

    Absolutely nothing.

    Here is the report from an Argentina newspaper:

    "Mining and oil companies must settle foreign currency in the country

    Decree 1722 signed by President Cristina Fernandez de Kirchner, Cabinet Chief Anibal Fernandez and Economy Minister Amado Boudou, determines that oil and mining companies must liquidate its dollars from exports in the country.

    In other words, these mining and oil sectors, which enjoyed a differential treatment for the settlement of their currencies, now have the obligation to enter and trade in the exchange market, all of them from oil exports, liquefied and natural gas and mining products.

    The Government argues that this measure is for reasons of “fairness.” The measure is applied after “having changed the circumstances that gave origin to the exceptions and with the aim of providing equal treatment for other productive activities such as agro-export complex.”

    At http://m24digital.com/en/2011/10/26/mining-and-oil-companies-must-settle-foreign-currency-in-the-country/
 
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