Milei’s Key Pending Task: Ending Argentina’s Currency Controls (Part II)

Daniel Raisbeck

The evidence in Argentina already shows that relaxing controls leads to a massive influx of dollars into the banking system, as would occur under an official dollarization process (whereby a government grants the dollar legal tender or simply allows its use under the free competition of currencies). And yet the currency clamp remains.

Though not explicit, the Milei government seems keen to avoid the experience of former President Mauricio Macri (2015–2019). During his government...