Why Argentina Must Still Dollarize

Argentine President Javier Milei came to power nearly a year ago on the campaign promise to abolish the central bank and dollarize his country’s economy. As part of his ambitious reform agenda, the government has eliminated fiscal deficits and significantly reduced public spending and inflation. Milei remains committed to dollarization but has not yet implemented that reform. Given the progress in stabilizing the economy, Emilio Ocampo, Alfredo Romano, and Nicolas Cachanosky will discuss why Argentina should not wait to replace the peso with the dollar. Drawing from regional experiences and Argentina’s own history, they will explain how carrying out such monetary reform sooner rather than later—along with lifting capital controls and freeing the exchange rate—would boost confidence in the Argentine economy and produce tangible economic and political benefits.

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