Debt-saddled Argentina pitches 'golden passport' scheme to woo wealthy foreigners

On Friday, the Argentine government announced a new initiative to offer citizenship to wealthy foreign nationals. The program requires participants to provide cash contributions or invest in government bonds, serving as a mechanism to attract capital into the country.

This policy, introduced under the administration of libertarian President Javier Milei, is intended to secure new sources of foreign currency for Argentina. The nation is currently facing significant economic challenges, including a substantial debt burden, and the scheme is positioned as a strategic effort to address these fiscal pressures.