Fresh out of Barnard College with a degree in political science, Riley is a writer and reporter for GZERO. When she isn’t writing about global politics, you can find her making GZERO’s crossword puzzles, conducting research on American politics, or persisting in her lifelong quest to learn French. Riley spends her time outside of work grilling, dancing, and wearing many hats (both literally and figuratively).
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.
