Roberto Cachanosky accused Javier Milei of “lying” about dollarization

Javier Milei assumed the presidency on December 10, 2023. Throughout this first year of government, he faced criticism not only from other political sectors, but also from economists who defend a vision of economic liberalism different from the current implementation.

In this framework, Roberto Cachanosky criticized the decisions of the Executive Branch in an interview. “No liberal economist would take the measures that Milei is implementing. He announced that investment funds were interested in dollarizing, promised to cancel the remunerated liabilities of the Central Bank and disqualified the peso saying that it was ‘excrement’ and was not even useful for payment,” he said. Cachanosky in an interview with Channel E.

Roberto Cachanosky harshly criticized the statements of Javier Milei, who stated that the peso was “artificially overvalued.”

Cachanosky’s vision of Milei’s dollarization

During the 2023 election campaign and at the beginning of his mandate, Milei promised to dollarize the Argentine economy. At that time, he stated that this would mainly harm politicians, since the theft of resources through monetary issuance would end.

However, over time, that plan became blurred and seems increasingly difficult to materialize. In this context, Cachanosky accused the president of having “lied” or having a limited understanding of the necessary process to carry out effective economic dollarization.

Although Roberto Cachanosky is not against dollarization, he considers that it is unviable due to the lack of resources necessary to implement it.

The economist also recalled that Javier Milei had proposed appointing Emilio Ocampo as president of the Central Bank, with the idea of ​​dissolving the entity. However, he finally chose Santiago Bausiliwho intervened in the exchange market and interest rates.

Taxes and adjustment: Milei’s failure

Regarding taxes, Cachanosky pointed out that Milei had flatly stated that he would rather “cut off an arm than raise a tax.” Despite this statement, the government raised the COUNTRY tax —although it will be eliminated on December 23— and also attempted to increase export duties, although this objective did not materialize.

Furthermore, the economist attributed the fall of the dollar mainly due to dissavings in the private sectorsince many people sell dollars monthly to cover expenses, such as paying credit cards.

Finally, the economist highlighted a crucial aspect: when Milei promised that the “caste” would be in charge of assuming the adjustment, that did not materialize. “Milei said that the caste was going to pay the adjustment and the caste did not pay anything, The great adjustment was a phenomenal liquefaction of retirements, salaries of public employees and postponement of public works,” he concluded.