Dollarization

The newly elected president of Argentina is going to Dollarize (i.e. ditch the countries currency and adopt dollar) because of high inflation. (Source: article by Morning Brew 21 Nov 2023)

• Central bank needs to buy all the Argentinan Pesos in circulation.
• Although central bank is short 50 billion, the economist adviors says there is alot in circulation
• Ecuador and Panama have done Dollarization; Results were mixed