The high interest rates on these loans make it difficult to repay on time. Globally, a private credit crisis is forming. In Argentina, 6 out of 10 families resorted to non-bank debt in the last six months, that is, outside the traditional financial system, to cover basic expenses such as food, services or rent. It … Read more
Milei’s government will not force dollarization. “People who make transactions in the currency they want,” says Javier Milei. Dollarization (or, more precisely, free currency competition), was at the heart of the economic proposal that catapulted Javier Milei to the presidency of Argentina in the November 2023 elections. Two and a half years later, The Argentine … Read more
León believes that USDT took on the role of “marker” in Venezuela because the market is distorted. “We could see a reduction in the gap and greater exchange rate unification,” he says. The exchange rate distortion that the Venezuelan economy is going through, where the stablecoin linked to the dollar, USD Tether (USDT), functions as … Read more
Ripple will not have the dollar, world reserve currency, in its CBDCS network. CBDC are not dead: Europe still believes in them. Yesterday, January 23, an executive order of the president of the United States announced the complete prohibition of the CBDC and the immediate termination of all the activities already initiated related to them. … Read more
Ripple will not have the dollar, world reserve currency, in its CBDCS network. CBDC are not dead: Europe still believes in them. Yesterday, January 23, an executive order of the president of the United States announced the complete prohibition of the CBDC and the immediate termination of all the activities already initiated related to them. … Read more
The initiative seeks to equalize the efficiency of payment methods, both in pesos and dollars. Javier Milei’s government has supported the idea of free currency competition in the economy. This Thursday, the Central Bank of the Argentine Republic (BCRA) announced a series of measures to promote currency competition in the economy. These regulations seek to … Read more
In recent weeks, the currencies of several countries have fallen to levels not seen for years. The Indian rupee is at minimum levels and the yuan reached prices not seen since 2008. The US dollar has shown gains against the Chinese yuan, Japanese yen, Russian ruble and Indian rupee in recent weeks. This phenomenon of … Read more
In bolivars, only the equivalent of 3.24 billion dollars circulates, estimates say. The dollars circulating in Venezuela are stagnant because dollarization is informal. In Venezuela, the circulation of US dollars in cash doubled that of bolivars, the local currency. According to the most recent study by the socioeconomic analysis firm Ecoanalítico, in November of this … Read more
Under current economic conditions in Venezuela, everyday transactions are controlled by the bolivar, the local currency. Although it is something logical to think, this occurs in the midst of an economy that, for several years, was practically controlled by the US dollar informally. According to the most recent study from the socioeconomic analysis firm Ecoanalítica, … Read more
In practice, coin competition is already happening, says Milei. In order to close the BCRA, it is first necessary to clean it up. Javier Milei, current president of Argentina, came to power making unusual promises. Among them was the establishment of a regime of free currency competition (popularly referred to as “dollarization”) and the closure … Read more