ANNOUNCEMENT 25 Oct 2011In October 2011, the government of Argentina announced a change in repatriation and surrender requirements.
NUMBER OF INTERVENTIONS
Decreto no. 1722/2011 (in Spanish): http://infoleg.mecon.gov.ar/infolegInternet/anexos/185000-189999/188703/norma.htm
On October 25, 2011, the Argentine president issued Decree no. 1722/2011, which stated the obligation for all mining and oil and gas companies to repatriate their foreign earnings. In other words, all export revenues must be converted to Argentine pesos using the local foreign exchange market. Export revenues can thus notbe directly reinvested abroad.