Evan Feigenbaum from Carnegie Endowment for International Peace says political fragmentation is increasing despite Asia becoming more integrated economically. Evan Feigenbaum, a former diplomat, has…
Thought Leader: Evan Feigenbaum
Dollarizing Argentina: Run-Off Elections Between Massa and Milei
Today, we’re turning our attention to Argentina’s upcoming run-off presidential election between current economic minister Sergio Massa and libertarian candidate Javier Milei. I could do a whole series on the effects of Peronism, but this time, I’ll be focusing on Milei’s proposed dollarization program.
Argentina has defaulted on its national debt nine times, and the government can manipulate events (and people) by hitting the peso printing button. Switching to the American dollar would institute some financial responsibility, but is it feasible?
Milei would need to come up with a metric-shit-ton of US dollars for this to work, but we’re still ignoring the impact on banking stability and the risk of hyperinflation. I’m not quite sold on the idea just yet, but let’s see who gets put in office before we go further down that rabbit hole.
Relevant and recent posts
Evan Feigenbaum: U.S. is banking on security role to keep it central in Asia, but that’s not enough
Evan Feigenbaum from Carnegie Endowment for International Peace explains why the U.S. is facing a crisis of confidence in Asia. Evan Feigenbaum, a former diplomat,…
Thought Leader: Evan Feigenbaum
Laurence Mussio: For Carney to succeed, he must convince Canada’s elite that it’s time for change
Laurence Mussio is chair of the Long Run Institute and a fellow of the Royal Historical Society of the United Kingdom. In the boom years…
Thought Leader: Laurence Mussio
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