2023-09-19 15:33:21
The president of the Supreme Court, Horacio Rosattispoke out against dollarizing the economy, as proposed by the presidential candidate of La Libertad Avanza, Javier Mileyif that measure involves the elimination of weight.
“If dollarization eliminates the peso it is unconstitutional,” he defined in an interview with the Spanish newspaper The country, from Spain. And then he expanded: “What is the currency of a country? The one that emits: it can be peso or patacón or whatever. Yes one dollarization remove the argentine currency It is unconstitutional. “If I abandon one currency and go entirely to the other, it is a path that, for me, is unconstitutional.”
Although in a series of academic presentations Rosatti had already raised his position on the issue, it now takes on greater relevance given Milei’s chances of reaching the Presidency since the dollarization project is his star economic proposal.
THE NATION He confirmed that in the Court there are those who are not as strict as Rosatti and warn that the highest court never ruled on this matter. They say that we would have to see what happens if a case eventually arises.
For Rosatti, the matter is clear. “All candidates should read the Constitution. This is the letter of the Constitution, it is not my far-fetched, twisted interpretation. I insist, there may be a thousand implementations by economists on the subject. You must have a currency that is issued in Argentina. I cannot regulate the value of another country’s currency. That fantasy must end. A debate like this has been raised, Manichean, Argentine style, all or nothing. Dollarization yes, dollarization no. I’m talking about the Constitution, I’m talking about what I’ve already written, I’m talking about the rulings I’ve already signed on this issue. By dollarization I can understand, from what I am perceiving, two things. One is dollarization in the strict sense. I go from one coin to the other. I cannot defend the currency of the United States, that is clear, because I do not have the resources, because I cannot issue, because I cannot regulate the monetary base. There are things that can be done and have already been done. Linking the value of a currency, one’s own, to a foreign currency, or to a set of currencies,” argued the head of the country’s highest court of justice.
Javier Milei shows a hundred dollar bill with his face during a libertarian caravan through La PlataNatacha Pisarenko / AP
And he added: “For example. So, Argentina says “one to one the peso with the dollar” it is not that the United States says “one dollar is worth one Argentine peso.” So it seems to me that when we talk about this, and this with all due respect to politics and economists, but this is the Constitution and the Constitution governs us all, the economist, the politician, the judge. When one says dollarization, it seems to me that one should be a little more precise and say “what do you mean by this?”
mercy managed to impose dollarization on the public agenda. Since the result of the PASO, she made it a central axis of the discussion about how to break the spiral of inflation. He had his own plan when he started talking about the issue in the 2021 campaign but, a few months ago, the economist Emilio Ocampo He approached him and brought him a different proposal, which the libertarian candidate finally decided to adopt. However, doubts still persist and the main criticisms come from four fronts that the same technicians admit are the most urgent challenges to be resolved if the elections are won: reserves, the relative price structure of the economy, political obstacles and practical implementation.
“In the face of a hypermarket, they would have no choice but to support because there is no other solution,” Ocampo argued in August in an interview with THE NATION after being consulted about the political obstacles to the initiative to dollarize the economy.
THE NATION
Conocé The Trust Project
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