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Transcripts For BBCNEWS Asia 20240701

the central bank it needs these foreign currency reserves to enact firepower and effect the economy and it has run out of that lifeline. the other aspect is the that of capital controls, they are measures by the government to prevent people from changing their argentine currency into foreign currencies, it is very popular they have a black market, where people meet to exchange the currency to the us dollar and thatis currency to the us dollar and that is artificially changing the currency, what they want to do here is bring it back to market, reduce this propping up, this artificial inflation, see where it stabilises off it has been welcomed by the international monetary fund which argentina has a huge debt to, they called the move bold said it would bring its refinancing progress programme back on track. people who will feel this are those who will feel this are those who import goods, they will find things more expensive, we will see pain for small and medium businesses

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