Miley swims against the tide: The dominance of the dollar is more agitated than ever

It is without downhill brakes. This is the most common sentiment among economists when describing the legacy that Javier Millay intends to leave in Argentina to his beloved Milton Friedman, the guru and father of neoliberalism. The Chicago Boys which the president-elect admits to idolatry. However, some other voices across the markets’ analytical spectrum think this is not a far-fetched theory. Even Wall Street received with some enthusiasm the electoral victory of Millais and his chainsaw, with which he announced his intention to arrange draconian cuts in the structure of the state.

The dollarization of the Argentine economy has already experienced, in fact, St ninety By Carlos Menem. he Currency Board -or exchange rate parity between the peso and green money American – launched in 1991, during the most liberal and privatized Peronist era in the country’s recent history, lasted eleven long years. Argentina was not allowed to escape default Not even that playgrounds Or the IMF’s multilateral bailout with its harsh reformist offsets. Ironically, it was his trigger Super Minister Economy Domingo Cavallo, who was responsible for burying this monetary device in 2002, during the mandate of Fernando de la Rua in the Casa Rosada and his Radical Civil Union (UCR).

Source: El Diario

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