"Analysts estimate funds held by Argentines outside banks reach nearly $170 billion, a sum that could very well reinvigorate the country's economy, injecting much-needed liquidity into the system."
"Even after Milei passed the aforementioned law, which licenses citizens to insert these funds without tax implications, dollar deposits have not risen by even $1 billion."
"Adrian Yarde Buller, chief economist at Facimex Valores, referred to the great opportunity that this law presents, even though it has not yielded the expected results yet."
"Experts believe this phenomenon is linked to a natural distrust that Argentines have of the banking system after the so-called corralito."
The Fiscal Innocence Law, intended to attract undeclared dollars into the financial system, has failed to increase dollar deposits in Argentina. Analysts estimate that nearly $170 billion is held outside banks, yet not even $1 billion has been deposited since the law's approval. This lack of trust in banks, rooted in the 2001 crisis, continues to hinder financial behavior. Experts emphasize that rebuilding trust in institutions is essential for changing this trend, indicating that more than just legal incentives are needed to encourage deposits.
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