Argentina’s President Javier Milei has softened his stance on fully dollarizing the economy, admitting that many Argentines simply do not want to adopt the US dollar. Instead of forcing a rapid shift away from the peso, he now suggests a more gradual or market-driven approach.
Milei argued that previous attempts at “endogenous dollarization” failed because people preferred holding onto their own currency rather than switching entirely to dollars. His latest comments indicate a shift from campaign rhetoric toward a more pragmatic policy path.
While dollarization was a core promise during his election campaign, economic realities—such as limited dollar reserves, political constraints, and public resistance—have made the plan difficult to implement. Analysts see this as a sign that Milei is moderating his more radical proposals as he governs.
Milei argued that previous attempts at “endogenous dollarization” failed because people preferred holding onto their own currency rather than switching entirely to dollars. His latest comments indicate a shift from campaign rhetoric toward a more pragmatic policy path.
While dollarization was a core promise during his election campaign, economic realities—such as limited dollar reserves, political constraints, and public resistance—have made the plan difficult to implement. Analysts see this as a sign that Milei is moderating his more radical proposals as he governs.