Argentina Turned $10,000 in Peso Savings Into $114. Steve Hanke Says the Fix is Incomplete

In Argentina, inflation has fallen sharply under Javier Milei. Yet a decade of destroyed savings and expensive long-term credit explains why Argentines continue to seek dollars. Argentines borrow at 29.9% on a long-term mortgage. Ecuadorians, who use the US dollar, borrow at 7.5%. Steve Hanke, the economist who helped Ecuador make that switch in 2000,