Argentina's New President Reconsidering Dollarization of the Economy

Argentina's new president, Javier Milei, has reconsidered the prospect of dollarizing the economy and abandoning the peso in favor of the U.S. dollar. This was reported by Lenta.ru.

Initially, Milei planned to appoint economist Emilio Ocampo, a proponent of dollarization, as head of the Central Bank. However, his plans have changed, and the president is no longer considering Ocampo's candidacy.

This indicates that Milei may be altering his stance on certain economic issues. At the same time, during the election campaign, the politician claimed that the peso is worth "less than nothing" and that the Central Bank should be "blown up." The day before, the presidential press service announced that he would not abandon the idea of shutting down the Central Bank.

Inflation in Argentina has accelerated over the past year, reaching its highest level since 1991. By mid-October, annual inflation had reached 142.7 percent.