June 19, 2024

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Javier Milei, Argentina’s New President, Wants U.S. Dollar as National Currency

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Updated Nov. 20, 2023 10:16 am ET

BUENOS AIRES—The self-styled anarcho-capitalist who won Argentina’s presidency on Sunday plans to ditch his nation’s peso and adopt the U.S. dollar as the national currency.   

President-elect Javier Milei’s top campaign proposal was aimed at eradicating rampant inflation that has for decades ravaged Latin America’s third-biggest economy by removing the battered national currency from circulation and stripping the central bank of its power to print money. Uncontrolled money-printing to cover public expenditures, economists say, has fueled 143% inflation, one of the world’s highest.

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2023-11-20 10:16:00

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