Argentina: Dollarization or exactly the opposite to Dollarization

Headlines in Uruguay indicate that Argentinian President Elect Javier Milei will ban adverts with prices in US Dollars. For example, when it comes to adverts offering properties for renting, prices will have to be in the Argentinian national currency and will no longer be allowed to be published in US currency.

The newly elected President promised to apply a chainsaw to cut the state structure to bits getting rid of much of it as a way to cut down waste. No longer a Minister for Culture, no longer a Minister for Diversity, no longer participation of the state in areas that are better served by the private sector.

Radical measures to deal with radical problems that have been destroying Argentina and have dramatically increased the numbers of those living under poverty lines. To sum up: no more politicking. The newly elected President will be inaugurated on December 10th 2023, but he has been making waves since long before there was a prospect of him even being a candidate for President. What he says is very much what he believes and this will certainly put many people on short notice. The attitude seems to be: change or else.

It has been noted that most of those classed as younger generations who supported Javier Milei did so as a last resort as they are absolutely disappointed with democracy, a democracy that has only led to waste, corruption and mismanagement. The duality Peronismo/Radicalismo has been nefarious for Argentina as it has only helped to preserve the vicious cycle of indebtedness. Argentina is still fighting in American courts to deal with debts created more than 30 years ago and no government - either Peronista or Radical - has been able/willing/competent to sort out Argentina's massive problems.