Milei aims to bring $271 billion in hidden cash back into Argentina’s economy

Argentina’s President Javier Milei is preparing to loosen the country’s complex tax evasion restrictions in an effort to draw billions of undeclared dollars back into the formal economy. With an estimated $271 billion stashed in homes, safety deposit boxes, and offshore accounts, savers have long sought refuge from a volatile peso, capital controls, and shifting tax laws.

While critics warn the plan could enable tax dodgers and money launderers, Milei argues it offers a path to reintegrate legally earned funds. In a largely informal economy, where cash deals dominate, experts say meaningful incentives, not penalties, are key to drawing money out from under the mattress and back into the system.