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

As an attempt to curb Argentina's debt, President Javier Milei announced a plan to give out passports to wealthy foreigners for cash or investments. Economy Minister Luis Caputo unveiled the so-called "golden passport" scheme at an investor event in Paris, saying applications are expected to open before the end of the year. Applicants have two options: make a nonrefundable €311,000 contribution to the Argentine Treasury or invest €711,000 in a new government bond that must be held for seven years. Contributions would increase depending on family size, with a family of four expected to pay €444,000, officials said. Securing dollars is critical for Milei as he prepares to seek reelection next year.