Argentina Inc doesn't want dollarization, business leaders say

  • 📰 Reuters
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Corporate Argentina is strongly against full dollarization of the economy, one of the key proposals of presidential election frontrunner Javier Milei, according to 125 business people Reuters spoke to.

At a major corporate summit in the seaside city of Mar del Plata, Reuters asked business executives from a wide array of sectors whether they wanted the government to stick with the peso, change to a dual peso-dollar system or make a total switch to the dollar. Only two people backed full dollarization.

"We are left without an anchor to adjust monetary variables and the experiences in other countries have not been good." Rival candidate Sergio Massa, the ruling coalition's economy chief, supports sticking with the peso, but has struggled to bring down inflation or arrest depreciation. Most business people surveyed at the IDEA business summit said it was important to keep the peso to be able to adjust monetary variables and maintain competitiveness. A full switch to the dollar would mean losing monetary policy levers.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Berkshire Hathaway Inc. Cl B stock outperforms market on strong trading daySupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Source: MarketWatch - 🏆 3. / 97 Read more »

Apple Inc. stock outperforms market on strong trading daySupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Source: MarketWatch - 🏆 3. / 97 Read more »