<h1>Lifting exchange controls enables a peso depeg into a managed currency band backed by IMF financing, risking capital flight and inflation.</h1> Argentina will lift most capital and currency controls and free the peso from its dollar peg, replacing the official fixed rate with a managed currency band, after receiving IMF financing to replenish central bank reserves. The change aims to normalise currency functioning and attract investment, but depends on sufficient disbursements to prevent pent-up demand for dollars; without adequate reserves the move could trigger capital flight, devaluation pressures, and renewed inflationary risk.