This Tuesday marks one year since the lifting of the exchange rate stocks, a historic measure announced by the Government of Javier Milei in 2025 and which represents one of the key milestones of the reform program promoted by the current administration.
On April 14, 2025, the Executive moved forward with the elimination of exchange restrictions, allowing the free purchase of dollars for both individuals and companies.
The decision implied unlimited access to the official market and marked a structural change in the functioning of the financial system, dismantling a control scheme that had been in place for many years.
Luis Caputo and Santiago Bausili.
The measure meant the end of a mechanism that distorted the economy and conditioned the operation of the private sector. For this reason, the exit of the stocks made it possible to normalize the exchange market, reduce gaps and create more predictable conditions for investment
.
Among the main effects after liberalization, is the accumulation of reserves by the Central Bank, which managed to strengthen its position in the months following the measure.
In turn, one of the points highlighted by the Executive was the stability of the exchange rate, which did not skyrocket despite initial fears and false news that existed before the restrictions were removed.
President Javier Milei.
Javier Milei's message On
the anniversary of the measure, Milei himself referred to the process through his social networks and vindicated the decision taken by his management. “ONE YEAR AFTER THE DEPARTURE OF THE CEPO”, began the message released by the president
.
“Exactly one year ago today, one of the worst tools of control, looting and impoverishment that Kirchnerism imposed on Argentines for decades came to an end,” he said.
In his publication, the President questioned exchange controls: “The exchange rate stock was an aberration. They forced the dollars to be liquidated at the price they decided, set the exchange rate from their desk and sent people to parallel markets. Meanwhile, the regime's fiscal degenerates and their friends were emptying the Central Bank
.”
He also argued that the removal of restrictions required a firm political decision. “Raising the stocks required something that Argentine politics lost many decades ago: conviction,”
he said. President Javier Milei.
Regarding the results after the measurement, Milei remarked: “What happened after April 14, 2025? Despite the fear campaign of cloaked journalists and the usual prophets of chaos, the dollar did not soar. The BCRA accumulated a large amount of reserves. There were and are historic streaks of purchases of USD by the BCRA
.”
The president also pointed out against those who questioned economic policy: “The same people who predicted the apocalypse are silent today. As always.”
Finally, he defined the elimination of the stocks as a substantive decision within his economic program: “The exit of the stocks was not a technical measure. It was a statement of principles. We gave Argentines back the right to decide on their own money
.”
And he concluded: “That is freedom. Not in the abstract, but in the facts. LONG LIVE FREEDOM DAMN IT...!!! ”.
