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170 prominent international economists have signed an open letter stating Milei's plan for the "dollarization" of Argentina will cause spiralling inflation, recurrent recessions and high unemployment for the country. They point to the example of Ecuador, which has experienced multiple episodes of default since moving to the US dollar.

The group writes:
“The only alternative, then, would be to dollarize at such an elevated exchange rate that it would provoke additional spiraling of inflation as a consequence of the collapse in real demand for money that would presumably be triggered by the mere announcement of plans to proceed in this direction,” the letter reads.

Milei responded to the open letter's critiques by quoting sections of the bible.

We need a stable economy for Puna/AGY to be able to bring in the specialist equipment they need to get the current plant working and expand to 12,000 TPA. If dollarization trashes Argentina's economy we face further setbacks. Further political destabilisation of Argentina increases our risk profile and threatens the growth of the company during a difficult period. There is little benefit having low taxes and low regulation if the roads are broken and are swarming with protesting citizens.

https://buenosairesherald.com/economics/dollar-peso/dollarization-is-a-mirage-170-economists-reject-mileis-plan