August 16, 2023 18:45 GMT
Milei Says Dollarization Plan Among First Planned Measures
- Argentina’s leading presidential candidate Javier Milei pledged to close the nation’s central bank while saying he would make every effort to avoid a default on the country’s sovereign debt if he wins the October vote. (BBG)
- Bloomberg reports that "his plan includes slashing spending by at least 13% of gross domestic product before mid-2025 by dramatically downsizing public works, reducing the number of ministries, removing subsidies and capital restrictions that would allow businesses to transact in US dollars."