Argentina, in dollar love affair, agonizes over divorcing the peso

María Barro, a domestic worker in Buenos Aires, supports the idea of dollarizing Argentina's economy as a hedge against inflation and the devaluation of the local peso, but is undecided about voting for libertarian candidate Javier Milei due to his aggressive style; Milei's dollarization plan has sharply divided opinion, with supporters arguing it is a solution to inflation while detractors say it would sacrifice the country's ability to set interest rates and control money circulation.

reuters.com

Relevant topic timeline:

8/23/2023

Bitcoin Dreams Are Coming True in Argentina and Turkey

Argentinian libertarian candidate Javier Milei, who is a bitcoin advocate and calls for the abolition of the central bank, won the Argentinean primary election, raising broader questions about the global experience for cryptocurrency holders in inflation-prone countries.

8/29/2023

Argentina's Milei will need time to scrap peso if he wins, advisers say

Javier Milei, the radical presidential front-runner in Argentina, may need time to fulfill his campaign promises of scrapping the peso currency and reducing taxes on grains if elected, according to advisers, who suggest he could use executive decrees to avoid congressional obstacles.

9/13/2023

Argentina weighs pros and cons of ditching peso for dollar like Ecuador

Argentina's dollar scarcity should not prevent the country from adopting the dollar as its currency, according to economist Francisco Zalles, who believes that dollars would flow back into Argentina once it makes the switch and that Javier Milei's plan to dollarize would be successful. However, other commentators have warned that adopting the dollar without ample reserves could have catastrophic consequences.

9/15/2023

Fiery Argentine Presidential Hopeful Milei Taps Into Voter Frustration

Argentine presidential candidate Javier Milei, known for his radical and aggressive style, has gained momentum in the country's political landscape with his promises to tackle economic volatility, inflation, and decline, as well as his pledge to dollarize the economy. He is seen as the front-runner in the upcoming October election, although his aggressive style has both appealed to and put off voters.

Topics

Posted 9/5/2023, 10:51:00 AM