Milei’s Path to Dollarization: Riddled with Doubts

By Leandro Gabin

Replacing the Argentine peso with the U.S. dollar might take years if it happens at all, experts say.

BUENOS AIRES — Javier Milei’s core idea, the one that has made him the apparent frontrunner to be elected Argentina’s next president, is dollarization: a plan to dissolve Argentina’s central bank, eliminate the peso and adopt the US dollar as legal tender, thus ostensibly eliminating the runaway inflation that has held the economy prisoner for years. But is the idea viable Independent analysts, economists and opposition figures consulted by AQ expressed doubts, noting the central bank has virtually no dollars in its coffers at present. A past attempt failed 24 years...

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