Argentina has been identified as the second country globally with the highest amount of cash stored externally from its financial system, amounting to approximately $250 billion. This places Argentina behind only Russia, which has around $390 billion in similar circumstances. The issue has prompted the Argentine government to focus on the phenomenon of cash savings, often termed as money kept 'under the mattress' or in safety deposit boxes, as a significant economic concern.

The statistics reveal that when adjusted for per capita calculations, Argentina leads the world with approximately $5,400 per person stored outside the formal banking system, contrasting with Russia's $2,800 per person. These estimates are derived from data managed by the International Monetary Fund (IMF) and underscore the economic behavior of Argentinian citizens in response to long-standing concerns about economic instability and inflationary pressures. Economic analyst Nery Persichini from GMA highlights these figures to illustrate the severity of Argentina's underground economy.

The findings reflect a broader issue of distrust in the formal financial institutions among the populace, which is exacerbated by Argentina's economic challenges, notably inflation and currency volatility. This trend raises questions about the effectiveness of economic policies aimed at stabilizing the country's financial system and prompts discussions on potential reforms to restore public confidence in banks and financial systems. The situation showcases the complexities of addressing informal economies, especially in nations faced with persistent economic distress.