The Argentine Ministry of Economy recently held a meeting aimed at promoting a new legislative initiative designed to encourage the repatriation of dollars that citizens have kept hidden, referred to as 'in the mattress.' This initiative comes promptly after the publication of the regulatory decree of the Tax Innocence Regime, which establishes a simplified income declaration regime aimed at incentivizing the flow of these hidden dollars into the economy. The meeting included prominent figures from the local capital market to explain the law's details and encourage its adoption.

Luis Caputo, the Minister of Economy, and Santiago Bausili, the President of the Central Bank of Argentina, led the meeting, reflecting the high priority the government places on this issue. Caputo had previously called on citizens to deposit their savings in banks as a way to stabilize the economy and enhance liquidity. The government's push comes amid ongoing economic challenges and aims to create a trusting environment where Argentines can feel secure about moving their savings from private hoarding to public banking systems.

This initiative is crucial for Argentina, a country that has faced severe economic turmoil, with currency devaluation being a persistent challenge. By encouraging the populace to bring out their hidden savings, the government hopes to increase liquidity in the financial system, stimulate investment, and promote economic growth. Success in this endeavor depends significantly on public perception and trust in the financial system, which has been historically fragile in Argentina.