They’re an export economy, chosing USD is basically shooting those exports in the foot.
I think his rationale is to take away monetary control from future administrations, which I think is a laudable goal. Argentina should be the richest country in South America, but its people keep getting robbed by the printing press. I wonder if going to a gold standard (or if they feel like rolling the dice, a Bitcoin standard) would be a better option.
(Cue the anti-crypto arguments because I mentioned Bitcoin)
How could such an odd choice benefit them?
Honest question.
I understand the other user’s point is that repetition of this story is inevitable and any attempt is better.
Maybe a Swiss Franc or Japanese Yen peg might suit them better, if they could buy enough volume.
They keep getting robbed by the IMF.
Thank fuck I was genuinely terrified for the Argentine people.
I mean i still am. The poverty and ridiculous inflation has already been happening. Unemployment is staggering. They are not doing well :<. I feel for the people.
Milei is still in power so you should probably keep being terrified my friend
He will back track on BRICS but I would rather take Bangladesh. It actually has potential and isn’t run by a crazy person
I’d rather take fucking Venezuela. BRICS is an uplifting mechanism as much as it is a global faction.
Growth in trade amongst BRICS is immense and that’s exactly what Venezuela needs right now.
