Emilio Ocampo published a entitled article, “this time is the same” where he insists that the American currency can be adopted without having “a mountain of dollars.”
The Dollarizing voices are again trying to resolve the economic crisis of Argentina by adopting the currency of USA. It is like a Revival of the 2023 electoral campaignalthough this time the president Javier Milei He has abandoned that battle knight of his electoral campaign.
This is the economist of Center for Macroeconomic Studies of Argentina (CEMA), Emilio Ocampoone of the professionals and academics that drives The dollarizing model “without dollars” for Argentina. Ocampo predicts that if the libertarian government is not hurt, it will fail as it happened to Mauricio Macri.
The professional published an article on the blog “Dollarization in Argentina ” where he points out that “if the government insists with the recipes that never worked or It is seduced by the flotation fantasy, it will achieve the same results as in the past And the Argentines will continue to dance to the Caribbean rhythm: a pa’adlante, two pa’atrás passage. ”
In his article Ocampo states that “If the Government gets a minimally favorable result in October, Milei will still have room to dollarize and save its presidency (powerful reason to vote)”.
“It has in favor the probable support of the United States, which considers su currency as a powerful weapon in its cold war With China and has interest in expanding its use globally, ”he added.
Changes in the Ministry of Economy?
In fact, the CEMA economist suggests Javier Milei to take the opportunity to Remove Minister Luis Caputo from the Palace of Finance.
“Historical fact: in January 1991 there was a strong run and reappeared the ghost of hyperinflation. Menem made a found in his cabinet and replaced Erman González with (Domingo) Cavallo, which on March 31, 1991 announced convertibility ”he recalled.
Argues that “in the October elections The Menemist PJ won 44% of the votes “and precision that” an alliance with the UCEDE and other provincial parties assured the Government a majority in Congress. ” “The most important structural reform program in history began since then Modern Argentina, ”he said.
Dollarization without dollars
Ocampo believes, based on his theoretical research, that To dollarize the economy, a large amount of American currency is not needed and awarded the abandonment of the idea to an alleged lobby of economists in favor of banks.
Points out that “What was the reason why the president abandoned his main campaign promise, The idea of the impossibility of a dollarization without a ‘mountain of dollars’ was firmly installed in the government, to even though he has no theoretical or empirical support. ”
“The Banks Economydeclared enemies of dollarization, contributed to spread it in the media as if it were a dogma, ”said Ocampo.
Source: Ambito
