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Argentina ends holding period for foreign capital
January 5, 2017 / 12:53 PM / a year ago

Argentina ends holding period for foreign capital

BUENOS AIRES, Jan 5 (Reuters) - Argentina’s government did away with a required holding period for foreign capital in a decree published in the official gazette on Thursday, a measure aimed at attracting investment with the country mired in recession.

Previously, investors had to wait 120 days to access funds they had moved into Latin America’s No. 3 economy.

The measure was one of the first adopted by Treasury Minister Nicolas Dujovne, who took office this week a year into center-right President Mauricio Macri’s term.

Former Finance Minister Alfonso Prat-Gay had decreased the mandatory holding period from 365 days but not eliminated it. (Reporting by Hernán Nessi; Writing by Caroline Stauffer; Editing by Chizu Nomiyama)

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