The US dollar became a trusted currency in a country without economic scars. The people saved and inflation fell as spending slowed. The government couldn't print money freely anymore and had to earn dollars through selling products. Argentina is considering dollarization, but it's not easy. They need enough dollars to replace existing pesos and a liquidity buffer for the banking system. It could cost Argentina 40 billion US dollars.
In today’s episode for 23rd November 2023, we explain a radical idea proposed by Argentina’s new incoming President to save the economy.
Talk to Ditto - https://bit.ly/45uvyDL