For Argentina, Dollarization May Work Better on YouTube Than in Reality

Updated Nov. 21, 2023 5:41 am ET

Argentina’s anarcho-capitalist president-elect is correct that the nation desperately wants {dollars}. But his financial plan for getting them stands out as the flawed one.

Javier Milei’s victory over Economy Minister Sergio Massa in Sunday’s presidential election confirmed how keen Argentines are to embrace change. The financial system is in tatters, with inflation working at 143%. Milei, an outsider who grew to become common on YouTube and TikTok, has promised to “chain saw” public spending, eschew China-friendly overtures and, most eye-catchingly, “burn down” the central financial institution and undertake the U.S. greenback because the nationwide forex.

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