Argentina’s Dollarization Is a ‘Bad Idea’, Top Economists Say

Dollarizing Argentina’s economy — as proposed by presidential candidate Javier Milei — is a bad idea that will do little to solve the country’s long-standing fiscal problems, three of Latin America’s most-renowned economists said.

Making the dollar legal tender in Argentina as a way to introduce fiscal and debt management discipline would be a “quick fix” that wouldn’t solve “structural problems” such as reigning in public finances, Guillermo Ortiz, former governor of Mexico’s central bank, said in a press call with reporters on Wednesday. Argentina also doesn’t have the dollars needed to undertake such a policy, he said.