SAO PAULO (ICIS)–A potential dollarisation of the Argentinian economy would not be enough to fix the country’s financial woes because it cannot be a substitute for a “sound economic policy”, the International Monetary Fund’s (IMF) director for the Western Hemisphere said on Friday.
Rodrigo Valdes added that for a country to dollarise, its central bank needs large dollar reserves, which is not the case of any Latin American country, he added.
The executive said the IMF was engaging with the economic teams of Argentina’s main presidential candidates ahead of the 22 October election, but only to listen and “better understand” their economic plans for the financially beleaguered country.
Published by: www.icis.com
Jonathan Lopez
13-Oct-2023
