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A supporter of Argentine presidential candidate Javier Milei, who has pledged to dollarize the country's economy, holds up a gigant fake U.S. dollar bill with Milei's face on it during a rally in Buenos Aires on Sept. 25, 2023. 

Argentina's history casts significant doubt on policymakers' ability to maintain fiscal discipline if its next president moves to replace the peso with the U.S. dollar as the country's national currency.

Considering Dollarization in Argentina, Part 2

Highlights

Argentina

Economics

Politics

In Argentina, presidential candidate Javier Milei -- a libertarian who has promised to overhaul the country's economic system, including by replacing the Argentine peso with the U.S. dollar -- is currently leading the polls ahead of the Oct. 22 presidential election, fueling fears that the country could soon be ''dollarized.'' In light of Milei's expected victory, it's important to look at the unique challenges dollarization would pose in Argentina, given the country's history of hyperinflation, economic crises and political instability.

COLUMNS

Considering Dollarization in Argentina, Part 2

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