Argentina's President-elect Javier Milei said on Friday that the closure of the country's central bank, a signature campaign pledge, was a "non-negotiable matter", according to a statement from his office posted on social media platform X.
The idea is that since the government can’t run a surplus by itself, he will break the capacity of running into deficit and making it so they don’t have any other choice.
It’s a nice-looking, simple idea that some countries try here and there and never work on practice.
The idea is that since the government can’t run a surplus by itself, he will break the capacity of running into deficit and making it so they don’t have any other choice.
It’s a nice-looking, simple idea that some countries try here and there and never work on practice.
There are several countries that use the dollar, including, in Latin America, Ecuador and Panama. They are doing fine.
More pertinently, Zimbabwe’s famous hyperinflation was ended by dollarizing.
So it’s not an outright crazy idea. I think the doomposting is mainly due to “right-wing therefore bad”.