Argentina’s Milei Lays Out Blueprint Toward Dollarization
- After reforms, Milei plans to let US dollars replace peso
- Milei spoke at a business event in Buenos Aires Tuesday
Javier Milei
Photographer: Paul Hanna/BloombergThis article is for subscribers only.
President Javier Milei reaffirmed his campaign promise to dollarize Argentina in the clearest articulation yet of his government’s economic blueprint.
Milei said that after clearing the central bank’s balance sheet by paying down its local liabilities and reforming the financial system, Argentina would move toward a free competition of currencies, which means the peso and the US dollar would both become legal tender. The peso, at that point, would be set at a “flexible” exchange rate.