Argentina's central bank has built about $3 billion in gross reserves this year, aligning with IMF targets but slowing purchases.
Daily dollar purchases fell to $124 million in May from $138 million in April as officials worry about inflation from added peso supply.
Economy Minister Luis Caputo expects acceleration in May‑June, while central bank President Santiago Bausili admits money demand recovery is slower than projected.
Weak inflation‑adjusted wage growth, rising loan delinquencies and tighter bank lending accompany the policy dilemma amid strong commodity‑driven dollar inflows.