1 / 1 Relevant items tagged with #Dollarization
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Group Urges Nigeria to End Naira Float, Reinstate Subsidies
[Aug 7, 2024 1:22 PM] The Nigerian government has been urged to abandon a floating foreign exchange system and reintroduce subsidies in the power and energy, agriculture, and transportation sectors. In a communique, the Multidisciplinary Finance Professionals (MFP) said…
De-Dollarization Faltering in Africa Because Citizens Lack Confidence in Their National Currencies
[Aug 7, 2024 6:30 AM] Despite clearly articulating reasons for de-dollarization in the Global South, African leaders will struggle to convince residents to embrace national currencies without changing economic management practices. People often lose confidence in a…
Russian Diplomat: El Salvador Proposes Settling Trade With Crypto
[Jul 31, 2024 11:20 AM] El Salvador has proposed using cryptocurrency as an alternative payment method for trade with Russia. The Central American nation has reportedly expressed interest in joining the BRICS bloc and may formally apply for membership within one or two…
Nigeria’s Anti-Graft Agency Announces Reward for Whistleblowers Exposing Local Currency Abusers
[Jun 5, 2024 9:36 PM] The Economic and Financial Crimes Commission (EFCC) in Nigeria has announced a 5% reward for whistleblowers who provide credible information leading to the prosecution of offenders involved in naira abuse. Dele Oyewale, the EFCC spokesman…
BRICS Will Create Payment System Based on Digital Currencies and Blockchain: Report
[Mar 4, 2024 11:40 PM] The five-nation BRICS group comprising Brazil, Russia, India, China and South Africa will work on creating a payment system based on blockchain and digital technologies, a report by Russian news agency TASS said.
Argentine President Javier Milei Rules out Dollarization Process in 2024
[Feb 8, 2024 3:30 PM] Javier Milei, the libertarian president of Argentina, has ruled out the possibility of applying his dollarization plan during 2024. In an interview with local media, Milei stated that while dollarization and the free convertibility of coins was the…
Latam Insights: Argentina’s Milei States Dollarization Is Close, Bitfarms Expands In Paraguay
[Jan 28, 2024 11:30 PM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Argentine President Javier Milei reiterates dollarization is near, Bitfarms announces a new site in…
Report: Turkey Exits From Foreign Exchange Protected Deposit Program
[Jan 3, 2024 4:30 AM] On Jan. 1 Turkey ended its two-year-old foreign exchange (FX)—protected deposit program in what is seen as another step towards a return to orthodoxy. Treasury and Finance Minister, Mehmet Simsek also signaled the start of what he called a…
India’s De-Dollarization Push Flounders as Oil Suppliers Cite Rupee Repatriation Concerns
[Dec 28, 2023 4:30 AM] The Indian Oil Ministry recently acknowledged that the country’s push to pay for oil with rupees has failed because suppliers are not sure if they will be able to repatriate their funds. The decision is intended to help diminish India’s…
Argentine Foreign Minister: Financial Contracts Can Now Be Denominated in BTC
Argentina’s President Javier Milei Axes Ministries; ‘There Is No Money’
[Dec 12, 2023 6:30 AM] Javier Milei, the president of Argentina, fulfilled his promise of reducing the number of ministries of the country in one of the first executive orders of his administration. The number of ministries was reduced to nine, as the state needs to cut…
Latam Insights: Milei Wins Runoff Election, Vows to Eliminate Central Bank in Argentina; Drex to Encourage Tokenization
[Nov 27, 2023 12:30 AM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Libertarian Javier Milei wins the runoff election in Argentina, reinforcing his intention of eliminating…
Argentina’s President-Elect Javier Milei ‘No Anarcho-Capitalist’ Says Former Greek Finance Minister
Why Congress Will Be the Dollar’s Downfall
[Oct 17, 2023 8:55 AM] Congressional inaction is likely to cause de-dollarization as the country’s foes — and friends — move even faster to get off the U.S. dollar. Americans deserve to know what’s at risk so we can vote accordingly, and get the economy we deserve.
Argentinian presidential candidate wants CBDCs to 'solve' hyperinflation
[Oct 3, 2023 5:43 PM] Sergio Massa’s stance on central bank digital currencies appears to be in complete opposition to Javier Milei, a pro-Bitcoin candidate who wants to abolish Argentina’s central bank.
Report: Nigerian Central Bank Sued for Dollarizing Economy
Latam Insights — Javier Milei’s Victory Divides Argentina; Bitso Launches Cross-Border Institutional Payment Service
Nobel Laureate Paul Krugman States Argentina Should Adopt the Euro Instead of the US Dollar
[Aug 20, 2023 10:30 PM] Economics Nobel laureate Paul Krugman recently stated that Argentina might be better off adopting the euro instead of the U.S. dollar amidst the devaluation of the Argentine peso. Krugman argued that Argentina has almost twice as much trade with…
Libertarian Javier Milei Wins Argentine Primaries: Experts Weigh In on Dollarization as the Peso Fades
[Aug 15, 2023 4:00 AM] Javier Milei, a libertarian politician, won the Argentine primaries with more than 30% of the total vote, causing experts to weigh in on the dollarization plans he has vowed to apply. Milei’s government plan contemplates reducing the…
Cato Institute Experts: Dollarization ‘Protects Ordinary People’s Purchasing Power’
Presidential Candidate Javier Milei Claims He Has the Funds to Dollarize Argentina
[Jun 30, 2023 12:00 AM] Javier Milei, a liberal presidential candidate in Argentina, stated recently that he has the funds needed for the dollarization of the country at the current market prices. Milei noted that his team had signed an NDA (non-disclosure agreement) with…
Latam Insights — Steve Hanke Advocates Dollarization in Argentina, Bitcoin City Plans Unclear in El Salvador, Sunacrip Implicated in Venezuela Layoffs
[May 1, 2023 2:00 AM] Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, economist Steve Hanke calls to dollarize Argentina, Bitcoin City plans are still not…
Microstrategy Founder Michael Saylor to Argentines: ‘You Need Bitcoin’ — Critics Insist BTC Is Too Volatile
Argentina Debates Dollarization in the Midst of Rampant Devaluation and Inflation
[Apr 26, 2023 4:00 AM] Javier Milei, a presidential candidate for the next election in Argentina, has presented a dollarization plan to fix the economy of the country if elected. The proposal, which has supporters and detractors, would aim to solve the historic…