Viewpoints
Opinion

Argentina: Dollarization Is Viable and Urgent

Argentina: Dollarization Is Viable and Urgent
A giant US $100 bill with the face of Argentine congressman Javier Milei is seen before the presentation of his book "El fin de la inflación" (The end of inflation) at the Buenos Aires International Book Fair, on May 14, 2023. Luis Robayo/AFP via Getty Images
Daniel Lacalle
|Updated:
0:00
Commentary

The viability of a currency change and the loss of monetary sovereignty are frequently discussed in the argument over dollarization in Argentina, but the most crucial aspect is sometimes overlooked: the peso is a failed currency. Due to the common belief that “the dollar is rising” when the peso is falling, this important element is disregarded in the media in Argentina.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
Related Topics