President
Javier Milei ruled out the possibility of dollarizing the economy during 2024
and maintained that this measure "is the final step of an entire process that begins with the sanitation of the Central Bank."
In an interview with journalist Iván Schargrodsky, the president said that
"there is no time"
for the measure to be applied during the course of this year, although he hinted that the conditions could be met in mid-2025.
"Dollarization (strictly speaking, the free competition of currencies) is the final step of an entire process that begins with the sanitation of the BCRA, to then advance in the reform of the financial system and then in the end it is liquidated. This reform is to create a anti-run banking, and once that anti-run reform is done, you can move on to a free banking system," said the president.
When asked if he ruled out dollarization for this year, Milei responded that "the time is tight. I think that if we maintained the current pace of sanitation of the BCRA, it would only be clean at the end of June. Adapting the financial system model could lead to problems." a year. The only advantage is that the dimension of the system is so small that
it could be done faster
."
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