Argentina squeezes foreign travel to protect its dollars

BUENOS AIRES, Argentina (AP) — Argentina’s government has launched measures to discourage foreign travel as a way to protect the country’s thin dollar reserves ahead of heavy debt payments. The Central Bank on Friday banned use of credit card installment payments for airline flights and other tourist services abroad. Argentina is trying to renegotiate repayment terms on a $45  billion credit the IMF granted in 2018. The Argentine peso has fallen to historic lows against the dollar recently, aggravating the nation’s persistent inflation. The new measure appears to hit hardest at middle class Argentines who don’t have the means to finance trips with a single payment.