"Milei highlighted that the main issue when dollarizing the country was the lack of adoption by Argentines, who have failed to embrace the greenback and continue to use the Argentine peso."
"We've proposed endogenous dollarization. Endogenous. That is, if you want, you can make your transactions in dollars, and yet people don't."
"Milei stressed that, strictly speaking, you can't force things on people, indicating the challenges of changing public sentiment towards currency."
President Javier Milei stated that the primary challenge to dollarization in Argentina is the lack of public support for the U.S. dollar. Despite government approval for dollar use in transactions, citizens continue to favor the Argentine peso. Milei's policy of allowing currency competition has not succeeded, leaving the peso as the default currency. He emphasized that even with measures like tax amnesty, people are not adopting the dollar. The situation complicates future economic reforms aimed at stabilizing the economy.
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