News of dollarisation

Argentina takes steps to speed up Milei’s dollarisation strategy

Yesterday 15:38 Argentina’s government is working with major banks and payment firms to advance Javier Milei’s dollarisation strategy.

365 days of Javier Milei

One year in, Milei yet to fulfill key economic campaign promises

09-12-2024 12:53 Dollarisation, the removal of the ‘cepo,’ and the closure of the Central Bank – though he has tamed inflation, President Javier Milei has yet to deliver on key economic promises in his first year in office.

BANKING & FINANCE

Central Bank working to enable dollar debt cards

14-10-2024 11:13 Argentina’s Central Bank is working with banks and credit card companies to enable debt cards denominated in dollars.

DOLLARISATION ON THE CARDS?

Milei wants Argentines to dollarise the economy for him

02-10-2024 13:16 Argentina’s President seems to have abandoned his vision of dollarisation of the economy. Instead, he wants his countrymen to do the job for him: dollar by dollar, peso by peso.

THIRST FOR CURRENCY

Argentines suddenly need pesos after Milei pitched dollarisation

04-06-2024 08:48 More people in Argentina are now selling some of their dollar savings for pesos to make ends meet than those buying greenbacks – the abrupt revival of demand is an unexpected consequence of President Milei's shock-therapy policies.

DOLLARISATION ON THE CARDS?

Milei lays out blueprint toward dollarisation

23-05-2024 01:31 Milei says that after clearing the Central Bank’s balance sheet, Argentina would move toward a free competition of currencies, which means the peso and US dollar would both become legal tender.

BLOOMBERG INTERVIEW

Milei sees long slog ahead to bring Argentina reforms he pledged

05-04-2024 11:14 While Milei made shutting down the Central Bank and dollarising the economy centrepieces of his political campaign, he acknowledges plans are going to take a lot longer than he expected.

DOLLARISATION ON THE CARDS?

Milei doesn’t see Argentina dollarising before midterm vote

01-04-2024 09:33 “I don’t think we’ll get there before next year’s mid-term elections," declares president in TV interview with CNN en Español.

Inflation

Banks warn against inflation bonds as price hikes cool

27-02-2024 11:36 Recession forecasts and a shrinking amount of money in circulation, as well as a narrowing gap between Argentina’s exchange rates and cooling inflation expectations, are driving investors to ease off inflation bonds.

DOLLARISATION ON THE CARDS?

Milei says Argentina has '85.7% chance of being able to dollarise’

15-02-2024 16:55 Argentina’s libertarian leader claims that neither zero deficit or the shuttering of the Central Bank is up for negotiation and that there is a good chance of dollarisation “at market rate.”

RUNAWAY PRICE HIKES

President Milei blasts inflation data, focused on reforms

15-02-2024 11:36 President Javier Milei blasts Argentina’s monthly inflation figure of 20.6% in January as “horrendous.”

ECONOMIC POLICY

Milei sets June deadline for lifting of capital controls

08-02-2024 06:24 Casa Rosada has a list of conditions required and assures that the dollar can be kept to around 1,000 pesos.

DOLLARISATION ON THE CARDS?

Milei says dollarisation isn’t a ‘short-term’ goal

06-02-2024 14:17 After making it the centrepiece of his presidential campaign, the now President Javier Milei began pushing dollarisation down his list of priorities.

DOLLARISATION ON THE CARDS?

How is Milei’s plan to dollarise Argentina progressing?

15-01-2024 13:17 La Libertad Avanza’s predominant campaign topic has made a strong comeback – a recent report by JP Morgan warned that dollarisation in Argentina might fail, even if the necessary dollars are obtained, and former economy minister Martín Guzmán says that the process "has already begun."

by Agustina Bordigoni

PRESIDENT SPEAKS

Milei vows to shutter Central Bank ‘sooner or later’

11-01-2024 15:16 President Javier Milei vows Argentina's Central Bank will be shut down "sooner rather than later" and that dollarisation isn't off the table.

DOLLARISATION ON THE CARDS?

JP Morgan warns of dollarisation risks under Milei government

10-01-2024 16:01 US investment bank warns of risks of Javier Milei’s plans to eliminate the peso, warning congressional weakness may block attempts to “de-Peronise” Argentina.

DOLLARISATION ON THE CARDS?

Argentina still plans to dollarise, Milei’s economy chief says

15-12-2023 09:13 “The objective remains the same — to get to dollarisation,” declares Economy Minister Luis Caputo.

ECONOMIC POLICY

Dollarisation is medium-term goal, Luis Caputo tells bankers

24-11-2023 22:06 Luis Caputo, who is leading Javier Milei’s economic team during the transition, tells banking executives in Buenos Aires that currency controls won't be lifted immediately and that dollarisation is a medium-term goal.

IMF DEBT PROGRAMME

Javier Milei may find an unexpected friend in the IMF

21-11-2023 16:43 What will the relationship be like between Javier Milei and the International Monetary Fund, given the impact of Argentina's ongoing US$44-billion loan agreement?

ECONOMIC INSTABILITY

Milei’s dollarisation gets first test as Argentine banks re-open

20-11-2023 21:12 Javier Milei couldn’t have hoped for a better reception from investors on his first day as Argentina’s president-elect.

DOLLARISATION ON THE CARDS?

Milei's dollarisation plan has Latin American precursors

20-11-2023 18:27 Javier Milei ran his campaign on promises to ditch the peso for the US dollar and do away with a Central Bank – all in the name of subduing rampant inflation.

ELECTION 2023

Milei confirms dollarisation is a non-negotiable 'state policy'

02-11-2023 18:29 Presidential candidate for La Libertad Avanza says he won’t back down on two key policies – dollarisation and the elimination of the Central Bank – despite electoral pact with PRO leaders Mauricio Macri and Patricia Bullrich.

ELECTION 2023

Debt, inflation and the peso: Argentina's election worries

17-10-2023 12:27 As Argentines head to the polls on October 22 for a crucial presidential election, candidates have campaigned hard on proposed elixirs for the country's economic ills.

ELECTION 2023

Juan Nápoli: Javier Milei’s link to big business

12-10-2023 12:49 Banker Juan Nápoli is a senatorial candidate for La Libertad Avanza – he is also libertarian presidential hopeful Javier Milei's liaison with big business.

by Giselle Leclercq

DOLLARISATION ON THE CARDS?

'Blue dollar' surges to record high as Milei reiterates dollarisation plan

09-10-2023 22:08 Libertarian presidential candidate Javier Milei reiterates desire to dollarise Argentina's economy as parallel 'blue dollar' surges to record 945 pesos per greenback.

Dollarisation proposal

Peru’s Velarde says Argentines should be free to choose currency

06-10-2023 14:03 Julio Velarde, Latin America’s longest-serving central bank chief, says "people should choose what currency they want to keep their money in."

Bloomberg

Peso tumbles with dollarisation rush amping up before vote

05-10-2023 17:25 Argentina’s peso is tumbling as Argentines rush to exchange pesos for dollars ahead of presidential elections later this month, posting its worst losses since an August sell-off.

ECONOMIC OUTLOOK

World Bank sceptical over Milei’s dollarisation plans

05-10-2023 00:45 Argentina’s economy is set to contract 2.5% in 2023, according to the World Bank.

International Monetary Fund

IMF says Argentina’s spending adds risks to US$44-billion deal

28-09-2023 15:41 “The recently adopted policy measures and announcements add to Argentina’s challenges,” IMF chief spokesperson Julie Kozack said at a press conference in Washington.

POLL ON $ -> US$

Poll: 20% believe dollarisation would mean peso-dollar parity in wages

27-09-2023 06:53 New Federico González & Asociados survey shows Javier Milei’s economic proposal is losing support and confusion over potential outcome of dollarisation.

DOLLARISATION ON THE CARDS?

Ualá CEO says Argentina dollarisation ‘positive’ for lending

25-09-2023 15:30 Javier Milei’s proposal to dollarise the economy would be positive for long-term lending, according to Pierpaolo Barbieri, chief executive officer of fintech company Ualá.

economy

How Javier Milei would cut Argentina spending by 14% of GDP

25-09-2023 09:15 Javier Milei’s fiscal belt tightening would focus on slashing expenditures on subsidies for utility bills, like gas, electricity and water, as well as federal government transfers to poor provinces.

DOLLARISATION ON THE CARDS?

Former IMF board member backs Milei’s dollarisation of Argentina

21-09-2023 23:14 Mark Rosen, a former US official on the IMF's board from 2019 to 2021, offers rare show of establishment support for Javier Milei's dollarisation proposal.

ELECTION 2023

Milei’s former billionaire boss praises his Argentina contender

21-09-2023 09:58 Eduardo Eurnekian, an Argentine billionaire and former boss of presidential frontrunner Javier Milei, praised contender Patricia Bullrich while stopping short of offering his explicit backing ahead of the country’s general election in October.

ELECTION 2023

Javier Milei wows Tucker Carlson, Elon Musk and Argentina’s elite

20-09-2023 14:47 Tucker Carlson, Elon Musk and members of Argentina’s elite are now fans of the radical libertarian who wants to dollarise Argentina’s economy, shut down the Central Bank, slash spending and scrap most taxes.

BLOOMBERG – ANALYSIS

Milei should dollarise Argentina at once, says man who did it in Ecuador

13-09-2023 14:15 Francisco Zalles, one of the few economists in world with experience of introducing dollarisation, is gung ho about libertarian frontrunner’s plan. Do it, and do it quick, he says.

DOLLARISATION ON THE CARDS?

Argentina economists lambast dollarisation proposal as ‘mirage’

11-09-2023 11:38 Economists lambast Javier Milei's proposal to dollarise the nation, calling the idea a mirage and warning it would spawn a new set of challenges.

DOLLARISATION ON THE CARDS?

Argentina’s dollarisation is a ‘bad idea’, top economists say

07-09-2023 13:13 Dollarising 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.

DOLLARISATION ON THE CARDS?

Milei in talks to win foreign financing to dollarise economy

07-09-2023 12:51 Javier Milei is in talks with investment funds abroad to obtain the foreign currency needed to dollarise the economy if elected later this year, reveals top adviser Diana Mondino.

BLOOMBERG - OPINION

Eduardo Porter: Argentina's dollarisation is a dangerous delusion

06-09-2023 11:08 Instead of hoping for a deus ex machina to restore macroeconomic stability, Argentines should strive for political institutions that reach the agreements every healthy economy needs.

Election 2023

Milei, telepathic conversations with dogs and mental health

02-09-2023 06:17 Beyond allegedly having telepathic conversation with living and dead animals, God and historical economists, Milei has an extremely short fuse, quickly escalating into a level of rage that is uncommon in someone expected to lead in times of crisis.

by Agustino Fontevecchia

DOLLARISATION ON THE CARDS?

Voters toy with ditching pesos for dollars

01-09-2023 15:21 In inflation-hit Argentina, where rentals, cars, and appliances are increasingly priced in dollars to sidestep the volatile peso, presidential candidate Javier Milei has sparked debate over whether to officially adopt the currency as a remedy to a battered economy.

ELECTION 2023

Ramiro Marra: ‘Dollarisation would take between nine months and two years’

31-08-2023 14:32 La Libertad Avanza’s mayoral hopeful for Buenos Aires City puts timescale on Javier Milei’s plan to adopt the greenback, but presidential candidate says it will “depend on the people.”

THIRST FOR DOLLARS

Inflation at 100% has Argentines demanding pay in US dollars

23-08-2023 14:12 The use of the dollar, while hardly new in Argentina, is exploding across the country today as inflation soars and destroys the value of the peso.

BLOOMBERG - OPINION

Tyler Cowen: Argentina’s future is with the dollar

22-08-2023 10:21 Presidential candidate Javier Milei has some unorthodox policy ideas, but at least one is simple common sense: dollarising his country’s economy.

DOLLARISATION ON WAY?

How Javier Milei plans to dollarise Argentina

17-08-2023 15:06 Javier Milei wants to turn Argentina into the world’s biggest dollarisation experiment.

JAVIER MILEI INTERVIEW

Milei vows to pay country’s debt while shuttering the Central Bank

16-08-2023 21:45 Presidential candidate reiterates criticism of Central Bank and says fiscal plan will create financing; Sovereign bonds have sold off since unexpected result.

ELECTION 2023

'A complete reform of the State': Milei presents plan for government

03-08-2023 15:45 Libertarian presidential hopeful outlines ideas for privatisation of healthcare, education and public works projects. Milei intends to slash government portfolios, unifying ministries while eliminating the Central Bank.

Election 2023

Electoral platform: Dollarisation, privatisations, guns, no sexual ed

18-05-2023 15:33 Leaked electoral platform presented by libertarian lawmaker to Judge María Servini features more than 60 proposals he aims to put into practice if he becomes president.