“To generate a greater flow of dollars.” The measure announced by Argentina the day before Javier Milei's meeting with Donald Trump

On Monday, the Argentine government announced the elimination of taxes for cereal and oil exports until October 31, said the Presidential Administration spokesman, Manuel Adorni, in a post on the X network, AFP reports.

The objective is “to generate a greater flow of dollars,” he explained, at a time when Argentina requests a loan from the US Treasury to fulfill its obligations related to the payment of debts and to calm the financial turbulence.

Argentine President Javier Milei will travel to the United States on Tuesday, where he has a bilateral meeting with his American counterpart Donald Trump, at the General Assembly of New York.

For several weeks, the Argentine Government has been experiencing a crisis of exchange, which has worsened after a powerful failure on September 7 at the important regional elections in the province of Buenos Aires, which are seen as a test for the legislative elections since the mandate, on October 26.

Among other things, the Argentine Congress has canceled a presidential veto and maintained a law that increases the financing for assistance to people with disabilities, openly defying Javier Milei's fiscal adjustment policy.

The financial markets reacted to this situation by a marked impairment of the peso and a decrease in the prices of bonds and shares.

The Minister of Economy, Luis Caputo, announced last week that the Government is prepared to “sell all the necessary dollars” to support the PESO within the fluctuation limits set by the Government. These statements encouraged the central bank to sell reserves of a billion dollars last week to defend the currency.

In order to encourage the liquidation of cereal stocks, the Argentine government has since July reduced taxes for cereal exports. In soy, for example, the main export product of the country, taxes were reduced from 33% to 26%.