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Argentina raids banks and financial houses | Argentina raids banks and financial houses |
(35 minutes later) | |
Tax officials have raided more than 70 financial organisations across Argentina, in what they say is an operation targeting money-laundering. | Tax officials have raided more than 70 financial organisations across Argentina, in what they say is an operation targeting money-laundering. |
Agents targeted banks, currency exchange shops and other institutions in Buenos Aires and various provinces. | Agents targeted banks, currency exchange shops and other institutions in Buenos Aires and various provinces. |
Officials accused them of tax avoidance and of facilitating capital flight out of the country. | Officials accused them of tax avoidance and of facilitating capital flight out of the country. |
Earlier this month, Argentina temporarily suspended the operations of Procter and Gamble, alleging tax fraud. | Earlier this month, Argentina temporarily suspended the operations of Procter and Gamble, alleging tax fraud. |
Argentina has been controlling access to foreign currency to try to maintain its falling central bank reserves. | Argentina has been controlling access to foreign currency to try to maintain its falling central bank reserves. |
The country is facing a raft of economic problems including high inflation at around 40% and a row with US creditors. | |
It has been excluded from international capital markets since its 2002 debt default, compounded by another default in July. |
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