Downy softener and Tide laundry detergent, products distributed by Procter Gamble, are pictured on sale at a Ralphs grocery store in Pasadena, California January 21, 2014. REUTERS/Mario AnzuoniOn Sunday, Argentina accused the company of hiding income and over billing $138 million (86.34 million pounds) in imports to get money out of the country, which three years ago introduced stringent capital controls in order to protect its fast dwindling foreign reserves.can confirm that we have temporarily suspended operations in Argentina, spokesman Paul Fox told Reuters, without giving any other details.Cincinnati based P the maker of Gillette razors and Tide detergent, runs three manufacturing plants and two distribution centres in Argentina.P operations in Argentina were suspended for a long period of time, it would make the upper end of 4 6 percent core EPS guidance more difficult to reach, BMO Capital Markets said in a note.The company said on Monday its Argentine operations contributed about 1 percent to its overall sales. P reported net sales of $83.1 billion in 2014.Argentina leftist government has been stepping up state intervention in the economy in an attempt to prevent its latest debt default from triggering a balance of payments crisis.The country has been banished from international capital markets since its 2002 default on about $100 billion in bonds, compounded by its fresh default on restructured bonds in July.The government is restraining access to foreign currency in a bid to retain central bank reserves, which have fallen 17 percent over the last 12 months, to about $28 billion.Reporting by Sarah Marsh and Jorge Otaola in Buenos Aires and Nandita Bose in Chicago; Editing by Lisa Shumaker and Ken Wills..
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