Added two new dollar exchange rates to the arsenal: the “Qatar” dollar and the “Coldplay” dollar. However, International Monetary Fund (IMF) Managing Director Kristalina Georgieva made a declaration against these measures, saying they would not replace “sound macroeconomic policies”.
Argentina Introduces ‘Qatar’ and ‘Coldplay’ into Dollar Exchange Rate Weapons
Argentina has been applying dollar exchange control measures for some time, but the government We are taking more steps. Different types of charges for different purposes and cost Argentinian people to purchase certain services and goods. This time, the government introduced two new exchange rates. These are commonly known as “Qatari dollars” and “Coldplay dollars”. They are known for their functions and uses.
The Qatari dollar rate applies to international or domestic purchases of luxury goods and services over $300. The currency unit is associated with many Argentines using this exchange rate to buy air tickets and pay for hotels at the upcoming soccer World Cup in Qatar.
The amount includes a series of taxes that have already stifled domestic and international tourism, according to Argentinian online travel agency Despeger. The company said:
Recently announced measures are discouraging Argentines from traveling because of the high tax burden. In addition to the constant changes in rules that continue to affect tourism, the new measures make it more difficult for an industry that has not yet recovered from the huge crisis of recent years.
Coldplay Dollars and Warnings
is. An international band that holds events in Japan. In the past, companies hosting these types of events could use dollars at the official rate, the cheapest unit of currency offered by the government. This exchange rate name is associated with Coldplay, an alternative rock band that sold out his 10 concerts in the country.
The organizer must pay his 30% tax to the official dollar exchange rate for events showcasing international performers such as Coldplay. This also affects the pockets of consumers who have to pay more to attend these concerts.
With the new currency unit, there are now over 14 exchange rates depending on how the dollar is used. This goes against the recommendations of Kristalina Georgieva, Managing Director of the International Monetary Fund. When considering her facility for her second expansion fund in Argentina, she said: As such, exchange rate controls and multi-currency practices should be lifted as reserve coverage is strengthened where circumstances permit.
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