Thursday , 29 February 2024
Home Finance For Argentina, Dollarization May Work Better on YouTube Than in Reality
Finance

For Argentina, Dollarization May Work Better on YouTube Than in Reality


Nov. 20, 2023 11:00 pm ET

Argentina’s anarcho-capitalist president-elect is right that the country desperately needs dollars. But his economic plan for getting them may be the wrong one.

Javier Milei’s victory over Economy Minister Sergio Massa in Sunday’s presidential election showed how eager Argentines are to embrace change. The economy is in tatters, with inflation running at 143%. Milei, an outsider who became popular on YouTube and TikTok, has promised to “chain saw” public spending, eschew China-friendly overtures and, most eye-catchingly, “burn down” the central bank and adopt the U.S. dollar as the national currency.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8



Source link

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Finance

More Cheese, Please: Farmers Are Squeezing Cows for Fattier Milk

Americans are eating more cheese and butter. That has dairy farmers scrambling...

Finance

South African opposition seeks to build on Cape Town success

Cape Town mayor Geordin Hill-Lewis gazed from the window of his office...

Finance

Japanese stocks rally as investors’ rate rise fears wane

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT,...

Finance

European Banks Brace for Testing Times After Peak in Interest Rates

Jan. 12, 2024 10:52 am ET European banks head into 2024 with...