Google Unable To Keep Paying App Developers In Argentina

An anonymous reader writes "Google has sent letters to app developers registered in Argentina saying they won't be able to accept payments on developers' behalf after June 27th. 'The change applies to both paid apps and apps that use in-app purchases. The move appears to be related to new, restrictive regulations the Argentine government has imposed on currency exchanges.' According to the Telegraph, 'The new regulations required anyone wanting to change Argentine pesos into another currency to submit an online request for permission to AFIP, the Argentine equivalent of HM Revenue & Customs. To submit the request, however, you first needed to get a PIN from AFIP, either online or in person. Having finally obtained your number, submitted your online request and printed out your permission slip, you could then present it at the bank or official cambio and buy your dollars. Well, that was the theory. In practice, the result was chaos. ... damming the flood has come at a huge cost to the economy, especially since the currency restrictions were coupled with another set of regulations that effectively imposed a near-total ban on any imported goods.'"

Comments

Argetina today equals Brazil of 25 years ago

[alexgieg]

Here in Brazil we had this kind of policy in the middle '80s. It brought incalculable damage to our economy and to our global competitiveness, together with hyperinflation and other such funny stuff. We finally abandoned this idiocy in the beginning of the '90s and haven't looked back since. Too bad South American countries in general are firm believers in the "But We Are Special!" School of Economics and don't like to do basic stuff such as looking around to see what worked and what didn't to then decide on policies. Argentina is going to suffer a lot in the following years until its government learn the lesson.

For other troubled countries to then disregard, after all, they're special too!

Re:Nicely done Cristina

[alantus]

Venezuela has had a similar currency exchange regulation system for 10 years now.
The limits are ridiculous:
- 400$ for traveling abroad, the paperwork has to be submitted 20 days in advance
- 400$ for internet shopping *per year*
- credit card usage abroad has a different limit depending on the destination and duration. On average 100$ per day, the paperwork has to be submitted 30 days in advance

Basically the government wants to control everything, not only for businesses but also individuals, and it does a crappy job at both. The end result is investments going elsewhere and the economy suffers.

The country has never before been in such a bad shape. Since Chavez took office, the Bolivar lost its value by 992%. This is in the country with the second biggest proven oil reserves in the world, and an oil price of more than 100$.