Argentines continue to hold approximately $170 billion in cash outside the banking system, as President Javier Milei's Fiscal Innocence Law fails to attract significant deposits. Despite the law allowing tax-free deposits of undeclared dollars, the initiative has not succeeded in drawing even $1 billion into banks. Analysts attribute this reluctance to lingering distrust from the 2001 "corralito" crisis, which saw dollar deposits forcibly converted to pesos. Facimex Valores' chief economist, Adrián Yarde Buller, highlights the potential economic boost these funds could provide but notes that rebuilding trust in financial institutions is crucial. Milei, who initially campaigned on dollarizing Argentina's economy, has since retracted this promise, citing a preference among Argentines for the peso. The lack of response to the Fiscal Innocence Law underscores the deep-seated skepticism towards government financial policies.