Overview
- Pramol Dhawan told reporters that Argentina should allow a full float to break the boom‑bust cycle.
- He said Pimco and other foreign investors will not purchase local assets at today’s exchange‑rate levels.
- Dhawan argued a US$20 billion swap, IMF resources or PPPs would not stop rapid dollarization if the peso remains mispriced.
- President Javier Milei has reiterated he plans to keep the managed band system in place through 2027.
- Pimco’s stance follows large losses on prior peso bets in 2018–2019 and the closure of its emerging‑markets currency fund around 2020.