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The government would need to borrow enough USD for the exchange. So it would need to convince lenders, not an easy task. The entire process would also need to
by guidedlight 2y ago
The government would need to borrow enough USD for the exchange. So it would need to convince lenders, not an easy task.
The entire process would also need to be secret, to preserve the value of the peso as much as possible.
- skissane 2y agoHe could also just go with a "soft dollarisation" in which USD is declared to be legal tender, alongside the peso–and then see what happens next. From what I heard (from Argentines I know), a lot of Argentine professionals desire to be paid by their employers in USD not peso, but that is technically illegal (not to say it doesn't sometimes happen anyway). Making that completely legal could be a step towards increasing use of USD and reducing use of peso in the Argentine economy.