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BUENOS AIRES—A self-styled anarcho-capitalist won Argentina’s presidency on Sunday. Now he has major plans for the economy by getting rid of his nation’s peso and adopting the U.S. dollar as the national currency.
President-elect Javier Milei’s top campaign proposal was aimed at eradicating rampant inflation that has for decades ravaged South America’s second-biggest economy by removing the battered national currency from circulation and stripping the central bank of its power to print money. Uncontrolled money-printing to cover public expenditures, economists say, has fueled 143% inflation, one of the world’s highest.
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