Javier Milei presents his innovative currency competition plan
“At some point, there are going to be so many dollars in the economy that, maybe that day, we will be able to close the Central Bank,” Milei explained
During the Expo Real Estate event, Argentine President Javier Milei revealed his currency competition plan and elaborated on the possibility of shutting down the Central Bank, a key aspect of his campaign. Milei highlighted the successful economic adjustments made by his administration, ensuring a debt rollover for part of 2025.
Milei rebranded his proposal as “currency competition,” aiming to allow the coexistence of the peso, US dollar, and other currencies. This approach addresses concerns about monetary restriction in a growing economy. “We are going to let currencies start competing and allow Argentines to use other currencies for transactions,” Milei explained.
Under his plan, incoming dollars can be directly used for transactions, eliminating the need to print money. Milei emphasized the potential closure of the Central Bank as the economy monetizes itself. He also highlighted the significant economic adjustment made by his administration, which will enable Argentina to manage public debt in the coming year.
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