Latin America is suffering from a major economic crisis, so some countries have turned to dollarization, in an attempt to get out of the problems of the economy, as dollarization is a concept familiar to many Latin American economies, which included changes in monetary policy, and Ecuador is the first country to impose dollarization and abandon its local currency; because of the successive economic crises, as it turned to formalize the US currency in January 2000, and Argentina is the last country to resort to the dollar, in an attempt to save the country from the economic decline it suffers.
In search of solutions to chronic inflation, the new Argentine president Javier Mailly proposes a trend towards dollarization, the dollarization of the economy and the closure of the central bank have become the plans that attract the attention of Javier Mailly, the founder of the far-right party La Libertad Avanza. With these measures, he promises to eliminate the inflation suffered by Argentina, which exceeds 140% per annum.
However, discussions about whether dollarization is appropriate or not in a developing country like Argentina are reflected all over the world, as its defenders see it as an option to alleviate economic problems, but also detractors who assert that countries lose in the absence of the sovereignty of the national currency.
