“Spend your dollars without anyone asking you where they came from”: Luis Caputo’s game-changing plan

In a move intended to mark a cultural shift in the Argentine economy, Economy Minister Luis Caputo confirmed that thenational government is finalizing details of a new financial deregulation package that will allow citizens to use dollars for daily purchases without having to account for their origin . The idea is clear: to enable the free use of foreign currency in the economy without bureaucracy or suspicion.

"The problem isn't that people don't want to spend their dollars, it's that they're made life miserable if they do," said Luis Caputo, justifying a series of measures the Executive Branch is preparing with the Central Bank and ARCA . "We want them to be encouraged to take them out of their mattresses , their safe deposit boxes, or wherever, and use them without fear," he added.

The plan aims for a remonetization of the economy , but no longer focused exclusively on pesos. For Luis Caputo, the most logical approach is for this monetary injection to be made directly in dollars , within the framework of free currency competition that seeks to strengthen domestic consumption and boost financial flows.

The initiatives would include tools to facilitate payments in dollars , whether by card, QR code, or bank transfer, without having to prove the origin of the bill. "In a normal country, no one asks you how you spend your money. That's what we're going to change," the minister insisted.

In addition to allowing greater fluidity with the dollar, the government plans to introduce tax incentives to encourage Argentines to stop viewing their foreign currency as mere emergency savings and instead invest it in the economic cycle. The measure aims to address the enormous amount of idle dollars circulating in the informal economy, estimated at more than US$250 billion .

Asked about the agricultural export sector, Luis Caputo acknowledged that the recent reduction in withholding taxes responded to fears of a possible drought, but clarified that "if the economic situation allows, a permanent reduction can always be discussed." He also issued a warning for the medium term: "Agriculture and energy will be the two major engines of growth, but we must be careful with revenue collection . There's no room for error."

Meanwhile, the Ministry of Economy insists that the key lies in changing the culture of excessive control over the use of money , something that, according to Luis Caputo himself, alienates the population from formal channels and forces them to operate outside the system.

The new economic phase proposed by the Government not only challenges old regulatory structures, but also seeks to give citizens complete freedom to choose how to spend their money . And this time, without awkward questions.

"What we're going to do is going to make people more likely to take their dollars out of their mattresses and spend them."

Luis Caputo said he doesn't buy the story that people "don't use dollars" and stated: "People don't use them because they're afraid that the ARCA will come after them." pic.twitter.com/LUseOmIdXD