Sooner or later, Argentina should dollarise

Dollarisation would be straitjacket, says Steve Kamin, but still looks preferable to the other options

The Central Bank of Argentina
The Central Bank of Argentina
Javier Pierini

On December 10, Javier Milei took office as president of Argentina. Milei ran on a platform that included drastic government spending cuts, elimination of the central bank and replacement of the peso with the dollar – that is, dollarisation. More recently, Milei has backed away from dollarisation in favour of more conventional stabilisation measures, but the question of whether or not Argentina should dollarise remains open. I believe that Argentina should dollarise – if not now, than soon.


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