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Argentina weaker peso will keep imports flat

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Argentina’s imports in 2016 are expected to be approximately unchanged from last year, as a devalued peso offsets the lifting of most import restrictions imposed by the country’s previous government, Buenos Aires’ top trade official has said.

Argentina has removed currency controls, eliminated export taxes on a number of key commodities and done away with many import licensing measures since President Mauricio Macri took office in December.

“We expect imports to be at a comparable level with last year because there are countervailing forces,” Commerce Secretary Miguel Braun told Reuters in an interview late on Tuesday at Argentina’s embassy in Washington.