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Argentina recovers $90B in money-laundering amnesty

The Argentine government has recovered $90 billion through its money-laundering amnesty program, while fines reached 82 billion Argentine pesos, El Cronista reported.

The number was disclosed during the last press conference of Finance Minister Alfonso Prat-Gay, who reportedly has been asked to step down due to management style differences with President Mauricio Macri.

"This surpasses the expectations of the most optimistic and is a sign that the situation is changing," Prat-Gay was quoted as saying, referring to the amount of funds re-funneled through the program.

According to him, the amount collected by Argentina is almost double some $52.5 billion that was recovered by the Brazilian government in a similar program, the publication noted. The amnesty program was started by the Macri administration to repatriate funds that were placed in overseas vaults and bank accounts.

As of Dec. 26, US$1 was equivalent to 15.70 Argentine pesos.