COLUMNS

Considering Dollarization in Argentina, Part 1

undefined and Global Economy Analyst at RANE
Markus Jaeger
Global Economy Analyst at RANE, Stratfor

Oct 12, 2023 | 14:15 GMT

This illustration shows a $100 banknote on top of Argentine pesos in Buenos Aires, Argentina, on Oct. 10, 2023.
This illustration shows a $100 banknote on top of Argentine pesos in Buenos Aires, Argentina, on Oct. 10, 2023.

(Photo by LUIS ROBAYO/AFP via Getty Images)

Popular economic frustration has increased sharply in Argentina in recent years against the backdrop of rising inflation and fears of a renewed external default. This sentiment has led Javier Milei, a libertarian who will contest in the first round of the presidential election on Oct. 22, to propose replacing the peso with the U.S. dollar as Argentina's national currency. This "dollarization" is so appealing to voters that polls suggest Milei will win the presidency....

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