Steve Forbes, editor-in-chief and grandson of the founder of the prestigious magazine Forbes, spoke to the president Javier Milei in a message in which he warns him that “If he does not dollarize the economy immediately” his economic plan “will not be successful.” The president said that dollarization could be carried out in 2025.
The former presidential candidate USA for him Republican Party recorded a video of the Argentine head of state in which his speech at the Davos Forumwhere Milei questioned the interventionist role of State and warned about the “threat” of the socialist agenda.
“Last month he pronounced one of the great speeches of our time at the WEFpresented a solid defense of capitalism and accurately described the threat we all face from modern socialism,” Forbes acknowledged and stated that, in addition, he raised “Rightly and forcefully, governments can manipulate and control our personal lives through extensive regulations.”
Next, the businessman appreciated Milei that as soon as he took office he decided to start his proposal to transform the country. “He wasted no time in proposing radical reforms as soon as he was sworn in as president of Argentina.”Told him.
Steve Forbes warned Milei that “his freedom revolution” will fail if he does not dollarize
However, Forbes warned him that, despite this, “His freedom revolution is on the way to failure unless he immediately carries out the most important part of his electoral platform, replacing the peso with the US dollar.”
Regarding the dollarization plan of the Argentine president, the editor-in-chief of the business magazine noted that “since his electoral victory, he has been inundated with an avalanche of warnings that it is not possible to dollarize the economy,” and described those who questioned the plan as a “shrill chorus of detractors” that “is totally wrong.”
The former Republican candidate insisted that dollarization could be done “right now” and considered that “it is not true” what a sector of the opposition points out that Argentina still does not have enough dollars: “Its government already has more than enough dollars on hand to buy each bill and coin in pesos and a lot of leftover money ”.
“Those concerned overlook an enormous fact that The Argentine people already own: tens of billions of US dollars hidden both abroad and under mattresses at home“he said regarding calculations that estimate that there are more than US$400 billion outside the system that could re-enter in the event of dollarization.
Although in Argentina there are more than 50% of poor, Forbes did not hesitate to assure that “transactions in Argentina are increasingly carried out with dollar bills or denominated in dollars.”
Forbes spoke of Milei’s dollarization plan as the solution to inflation
For the businessman, yes Milei decides to move forward with dollarization could put an end to inflation “almost overnight” and, consequently, “will allow your country to quickly experience real growth again. Now people only see pain, dollarization would put an end to the greatest source of suffering”
“In parallel with discarding the weight with the American dollar, he President must drastically reduce tax rates. Once again, the IMF and others will shout that this should not be done, that it would fuel the inflation. Once again, they are deeply mistaken. Prosperity does not cause inflation. Decreasing the value of your currency does. Mr. President, if you do not immediately dollarize the economy, will not be successful and That failure will discredit the philosophy of free market so necessary for a better world,” he warned him.
The message of Steve Forbes It had an impact on social networks and the Minister of Economy, Luis Caputo, echoed through his “X” account. “I have said it before and I repeat it, our president is today one of the 5 most influential people in the world. Many people in our country have no idea the dimension that his preaching has taken on. The eyes of the world are watching what is happening in Argentina,” said the head of the Treasury Palace.
Milei: “In 2025 we could achieve dollarization”
On Saturday, during his stay in Rome, The president gave an interview in which he provided details about the date of possible dollarization. “In 2025 we could achieve dollarization,” he said in dialogue with Ámbito.
“We are getting closer to being able to dollarize. We have accumulated US$7,000 million in reserves and The monetary base is US$7,500, put US$8,000 million, that is, we are nowhere near“said the president earlier in statements to Radio Miter.
The head of state announced that after his return from Rome will meet with technicians Ecuador to talk about dollarization. “They are giving me a report because they consider that we could do it now. I’ll see you when I get back from the trip,” she confessed.
Source: Ambito
