> Separately this is generally not a great idea economically. You do kill inflation in Argentina (replaced with American inflation but that is extremely low and stable by Argentine standards). But you have no control over your monetary policy or your exchange rates. If your economy is export driven to (e.g.) China, you now have to worry about the dollar-yuan rate, which is not under your control.
"generally not a great idea economically" is true, but this specific case is one of the few where it could be a fantastic idea.
Control over one's currency > pegging to or using USD >>>> historic Argentinian monetary policy. If (1) is impossible, then (2) would represent monumental improvement over the status quo.
"generally not a great idea economically" is true, but this specific case is one of the few where it could be a fantastic idea.
Control over one's currency > pegging to or using USD >>>> historic Argentinian monetary policy. If (1) is impossible, then (2) would represent monumental improvement over the status quo.