Milei Faces Hurdles in Bid to Close Argentina's Central Bank
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Milei vowed to close Argentina's central bank, but doing so would be challenging given the country's $7.7B monetary base and IMF debts.
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Milei could follow El Salvador's model - first adopting the US dollar, then accepting Bitcoin. Market forces may determine currency use if he takes a libertarian approach.
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Argentines have $100B-$300B in dollar savings abroad that could return with new exchange rate rules.
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A first step would be making the currency fully convertible. Not doing so would be worrying.
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The central bank and treasury are separate - a country can lack a central bank but needs a treasury. Less debt capacity could force fiscal efficiency.