Overview

• Hard-right libertarian presidential candidate Javier Milei has proposed replacing the peso with the US dollar, causing the peso's value to rapidly decline.
• Milei's criticism of the peso led to an unofficial 7% single-day drop, sparking concerns about inflation and banking issues.
• If elected, Milei aims to fully dollarize Argentina's economy, but may face challenges accomplishing this.
• Argentina is undergoing a severe financial crisis with annual inflation over 120% and frequent price fluctuations.
• Milei's dollarization proposal has raised worries about the stability of Argentina's currency and economy.