ARGENTINA BANS ALL IMPORTS
TEMPORARY EMBARGO (Rec. 11.30 p.m.) NEW YORK, August 21. The Central Bank of Argentina announced that all Argentine imports would be halted temporarily as a result of the suspension of sterlingci ollar convertibility. The Central Bank said the allotment of foreign exchange for all kinds of imports would be suspended temporarily “in order to study the repercussions which the suspension of convertibility may have on the development of our international trade.”
The Central Bank gave no indication of how long its embargo would be effective. Argentine exports to Britain are much larger than those to the United States, and the sterling received from Britain was converted into dollars to cover the Argentine’s unfavourable trade balance with the United States.
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Press, Volume LXXXIII, Issue 25270, 23 August 1947, Page 9
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123ARGENTINA BANS ALL IMPORTS Press, Volume LXXXIII, Issue 25270, 23 August 1947, Page 9
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