Argentina's capital controls are an 'instrument of torture,' Bullrich says

Argentine presidential candidate Patricia Bullrich of Juntos por el Cambio alliance attends a business event in Buenos Aires, Argentina August 24, 2023. REUTERS/Agustin Marcarian

BUENOS AIRES (Reuters) - Argentina's leading conservative presidential candidate Patricia Bullrich said on Thursday that the country's strict capital controls were an "instrument of torture" that she would look to quickly disband if elected later this year.

She has pledged to undo the controls, known locally as the "cepo," that have slowed the peso's slide but sparked thriving parallel markets where dollars are over twice as expensive as the official exchange rate.