Subscribe
Login
Tourism

Argentina Makes it More Difficult for its Citizens to Shop on Vacation

Jason Clampet photo
Charlie Devereux

Skift Take

President Kirchner's new financial policies should look to her previous ones -- and do just the opposite.

Argentine President Cristina Fernandez de Kirchner increased a tax on credit card purchases abroad ahead of the southern hemisphere summer vacation period to stem a hemorrhaging of reserves to a seven-year low. The government raised a levy on card purchases in foreign currency to 35 percent from 20 percent, according to a resolution published in today’s Official Gazette. Central bank reserves have plunged 29 percent this year to $30.9 billion as the gover

Get unlimited access with Skift Pro.

Subscribe now for complete access to Skift.com's trusted coverage of the travel industry.

Apple Pay, Google Pay, Paypal, VISA, Mastercard, Discover, American Express

Already a subscriber? Login