Monday, November 19, 2012
By Shane Romig
BUENOS AIRES--A host of barriers thrown up by the government to block Argentines from buying U.S. dollars was successful in staunching the outflow of capital during the third quarter.
After bleeding capital through 2011 and the first half of 2012, there was actually a positive inflow during the third quarter of $6 million, according to a Central Bank report. That compares to capital flight of $8.44 billion during the third quarter of 2011.
During the first three quarters of 2012, capital flight totaled $3.57 billion. That is down sharply from the hefty $ 21.5 billion capital outflow seen in 2011.
To view full text of this article, visit http://www.nasdaq.com/article/argentina-stems-capital-flight-in-third-quarter-by-blocking-dollar-buying-20121116-00696