Argentina is experiencing a liquidity crunch, with President Milei clashing with top banks.

The new liquidity measures aimed at containing the peso sell-off have exacerbated the tense relationship between Argentine President Milei and the country's banks. The banking sector had previously aligned with his policy objectives, but now their profitability is threatened. Bankers believe that the new regulations requiring institutions to meet reserve requirements on a daily basis rather than monthly are inefficient and costly. Bloomberg, citing sources familiar with the matter, reported that major financial institutions are preparing a document containing operational reform proposals to be submitted to the central bank.