On 26 December 2016, after the dismissal of Alfonso Prat-Gay by President Macri, the Ministry of Treasury and Public Finance was split in two, with Caputo being appointed Minister of Finance in January 2017.[6]
He continued to take on the task of ensuring the arrival of the necessary funds to face the fiscal deficit. His deep knowledge of international finance and direct contact with interlocutors on Wall Street are highlighted.[7]
President of Central Bank
On 14 June, Caputo became President of the BCRA. His main challenge was to contain inflation, results that Sturzenegger's administration did not achieve in 2018.[8]
He oversaw a dramatic reduction in BRCA debt in the form of LEBAC bills, a move considered to be an important achievement.[9]
Meanwhile, the BCRA's reserves in June were $45 billion and, upon announcing its resignation, it reached $49 billion (considering here the IMF's money inflow).[9]
He resigned on 25 September 2018 "for personal reasons", during a negotiation with the International Monetary Fund and internal policies, and was replaced by the Secretary of Economic Policy of the Ministry of Treasury, Guido Sandleris.[10][11]
Argentine stocks and bonds fell after his departure from the Central Bank.[12]
Controversies
On 2017, a government branch of the Fiscal Ministry opened a judicial case accusing Caputo of embezzling money from a Social Security fund by paying fees of at least 540,000 AR$ to a company he had owned and directed until 2015, in lieu of services that were unnecessary.[13][14][15]
On 5 November 2017, the Paradise Papers, a set of confidential electronic documents relating to offshore investment, revealed that Caputo had managed at least two offshorewealth funds.[16] Neither the Cayman Islands–based Alto Global Fund nor its Miami-based parent company, Noctua Partners LLC, were listed in Caputo's financial disclosure statement, a statement that all public officials and candidates for office are required to make.[16] He told Argentine members of the ICIJ team that "it was an investment fund for friends and family."[16]
The funds, opened in 2009 and with over $100 million under management, remained under Caputo's management until December 2015, when Macri named him Finance Secretary, a post upgraded to Finance Minister in January 2017.[16]