Argentina Proposes Bill to Allow Dollar Contract Payments in Pesos
June 12, 2012 1 Comment
BUENOS AIRES–Argentine President Cristina Kirchner has submitted a bill to Congress that would allow debtors to pay U.S. dollar-denominated contracts in pesos.
The bill comes amid a broad government push to wean Argentines off their long-held preference to use dollars for major transactions. It’s unclear if the bill will apply retroactively or if it could affect government debt.