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

Argentina's front-runner presidential candidate, Javier Milei, plans to scrap the peso currency and cut taxes on grains, but advisors state that implementing these proposals would take time and may require the use of executive decrees to bypass congressional hurdles.

yahoo.com

Relevant topic timeline:

8/22/2023

Argentina needs a recession, not dollarization, to tackle the peso crash, an economist says

Argentina should focus on fiscal spending cuts and a recession rather than adopting the dollar as its currency to address the recent peso crash, according to an economist.

9/5/2023

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.

9/7/2023

Argentina Faces Risk of Peso Devaluation After Presidential Election

Argentina's peso currency is at risk of another devaluation after the upcoming presidential election, with estimates suggesting a 16.6% devaluation in the three months following the vote.

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 8/29/2023, 11:06:02 AM