After decades of financial crises, Argentines tend to keep their money just about anywhere except a bank – under the couch, dug in the backyard or in bulletproof bunkers. One ex-politician famously stashed cash at his local convent. The nuns helped out.
President Javier Milei convinced nearly 300,000 Argentines to declare over US$20 billion in a tax amnesty programme that established that deposits above US$100,000 had to remain untouched in bank or brokerage accounts until January 1, 2026, to avoid a levy. After that, Argentines with the so-called CERA accounts will be free to move their money – a test of locals’ confidence in the libertarian leader, as well as a possible inflection point
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