Building up its reserve of dollars, has allowed Argentina to let its peso to flow more freely.
The stockpile of dollars can be used to counter sudden capital outflows, instead of needing to reimpose strict capital controls.
Hopefully this development continues. Maybe one day the currency can become as free floating as the dollar or euro, which is something we neoliberals ought to want.
Unterfahrt on
You can dislike Milei for a lot of things, but he is by far the most economically competent leader Argentina has had in living memory. Even technocratic centre-right leaders like Macri failed, because incrementalism and institutionalism don’t work when the institutions are rotten to the core.
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https://www.batimes.com.ar/news/amp/economy/milei-eases-grip-on-argentine-peso-as-reserves-hit-seven-year-high.phtml
Submission statement:
Building up its reserve of dollars, has allowed Argentina to let its peso to flow more freely.
The stockpile of dollars can be used to counter sudden capital outflows, instead of needing to reimpose strict capital controls.
Hopefully this development continues. Maybe one day the currency can become as free floating as the dollar or euro, which is something we neoliberals ought to want.
You can dislike Milei for a lot of things, but he is by far the most economically competent leader Argentina has had in living memory. Even technocratic centre-right leaders like Macri failed, because incrementalism and institutionalism don’t work when the institutions are rotten to the core.