Argentina
By Larry Habegger | Permalink |
No Comments | April 30th, 2002 | Trackback
After a 10-day shutdown, banks reopened April 29 following passage of a law that prevents massive savings withdrawals. Such withdrawals had caused a run on banks and threatened the country with financial collapse. ATMs are again the best way for travelers to obtain local currency. Traveler’s checks are inconvenient even in Buenos Aires and difficult to cash anywhere outside the capital city.
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Argentina
By Larry Habegger | Permalink |
No Comments | April 23rd, 2002 | Trackback
The country’s financial crisis has taken another turn for the worse with the government closing banks April 21 to prevent a run on pesos, and people rushing to ATMs trying to withdraw their savings before it becomes impossible. The situation got so bad that in one case thieves actually stole an entire machine from a shopping mall in Buenos Aires. The bank rush was heaviest in the capital city. Travelers should bring cash dollars, which are readily accepted at many hotels, restaurants, and other businesses. When the banks reopen ATMs should be reliable for obtaining currency.
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