"Take your dollars out of the mattress now": Luis Caputo's bombshell plan that could change Argentina's economy

In a move aimed at shaking up the country's financial structure , thenational government is preparing a package of measures with which it hopes to remonetize the economy and put into circulation some of the more than US$250 billion that Argentines keep outside the system . The goal: to stop locking up dollars and start using them in everyday life.

Economy Minister Luis Caputo promised an announcement "that will be surprising" in the coming weeks. Although he avoided providing details, he asserted that the initiative aims to boost widespread use of the dollar in everyday transactions , from lunch at a restaurant to shopping at a supermarket. " We want dollars to circulate . Growth will only come if consumption is reactivated, and that requires more monetary volume," explained the Minister of Finance.

Specifically, NA reported, the government is working with ARCA on a tax incentive scheme, which includes potential tax reductions such as the Check Tax if paid in dollars, and the implementation of technological mechanisms such as QR code payments to facilitate its use. The goal is clear: to make the US currency an everyday player in the domestic market , without the need to impose formal dollarization.

Official sources assure that this new chapter is part of Phase 3 of the economic program , whose focus is on fostering currency competition and boosting the economy without issuing currency. In this scenario, it doesn't matter whether the peso or the dollar is used, as long as the money starts moving. Caputo's motto is simple: let every Argentine choose which currency to use .

Another idea under consideration is to allow agricultural exporters to settle foreign currency directly between private individuals , avoiding intervention by the Central Bank. This would represent a break with decades of rigid exchange rate policies and could open the door to greater inflows of capital through commercial channels.

"We've already controlled inflation and stopped issuing currencies. Now it's time to mobilize dormant resources , and that includes dollars in safe deposit boxes, mattresses, or accounts abroad," the economic team notes. To achieve this, the government believes it must offer more than just a money laundering measure : it needs concrete measures that make the circulation of foreign currency attractive and secure .

In parallel, progress is being made in gradually lifting the currency controls , with signals to the countryside to liquidate exports and tax benefits for industry. The goal is to increase dollar inflows from investments, trade, and savings .

With the dollar resisting the $1,000 mark and reserves still fragile, the battle for greenbacks is becoming strategic . Caputo knows this, and that's why he's playing a bold card: transforming the dollar into the currency of everyday life .

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