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Bank Associations Criticise Milei's Comments On Peso

ARGENTINA
  • ARGENTINA BANKS CRITICIZE MILEI'S COMMENTS ON SAVING IN PESOS
  • ARGENTINA BANK ASSOCIATIONS RELEASE STATEMENT ON ELECTION (BBG)
  • Newswires have cited World Bank’s chief economist for Latin America and the Caribbean, William Maloney, as expressing concern over the dollarisation of the Argentinian economy planned by presidential candidate Javier Milei.
    • According to Milei, the dollarisation of the economy would help to curb Argentina’s inflation and reduce poverty in the process. Just yesterday, Milei expressed contempt for the peso, suggesting that Argentines avoid saving in the currency.
  • Headlines throughout Tuesday’s session have focused on the dollar blue — a parallel exchange rate that gauges the market value of the peso — topping 1,000 per US dollar, which represents a 40% drop from the primary just two months ago. As a reminder, Argentina will hold the first round of the presidential election on October 22.

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