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flag Argentina’s new tax amnesty law encourages depositing hidden dollars to boost reserves for IMF debt payments.

flag Argentina has passed a "tax innocence" law under President Javier Milei to encourage citizens to deposit hidden U.S. dollars—estimated at $251 billion—into banks by reducing penalties for past tax evasion. flag The law raises the prosecution threshold for tax evasion to $70,000 annually, shortens the statute of limitations for financial crimes, and eliminates the need to report changes in net worth. flag The goal is to boost foreign exchange reserves to meet $19 billion in upcoming debt payments, as required by the IMF. flag The initiative, part of a 2023 amnesty program, has already brought in over $20 billion, now freed for use. flag Officials urge deposits, especially at state-owned Banco Nación, while critics warn it could enable money laundering.

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