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- Steps Taken:
- 1. Made deal with exporters to sell their inventories (Oct - Dec 2014)
- -raise X, improve CA, also improves IS curve
- 2. Sale of 4G telecom licenses (Dec 2014)
- -Both 1 and 2 help increase foreign reserves
- 3. Govt subsidized home loan program (PROCREAR) (
- 4. Renminbi swap line with People's bank of China (Apr 2015)
- -got $4.6 bil in USD to add to RES
- -helps keep E constant, keep BP from moving
- 5. Macri Enters office
- 6. Change to dirty float exchange rate (Dec 2015)
- 6. Removes taxes on agriculture exports (Dec 2015)
- 7. Relax capital controls
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