Strict exchange controls in Argentina continue to impede foreign investment, with few signs of a quick unwinding of the rules. The government has recently tightened restrictions, which are expected to remain until the country’s midterm elections. Lifting these controls is key to negotiations with the IMF for a new program, succeeding the current USD 44 bln deal set to expire in December. Foreign investors face restrictions on currency purchases and must deposit dollars obtained through securities in mandatory bank accounts.