Argentina's Bold Bet: Ditch the Peso for the Dollar

Argentina's new president, Javier Milei, is making a radical gamble: replace the peso with the U.S. dollar and shut down the central bank. His goal is simple—stop the government from printing money to cover its debts, which has driven inflation to 140 percent. The risk is steep: if it fails, Argentines will suffer deeper economic pain with no way out.