Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: stomper who wrote (136606)	12/1/2001 2:29:19 PM
From: Simba	Read Replies (1) of 436258

Can somebody explain what "dollarization" means ? I guess this means that all peso's in circulation and in vaults are rounded up and burnt and replaced with "equivalent" dollars. Who fixes the dollar-peso rate ? Didn't Argentina have a fully convertible currency and therefore there is a currency market determined current peso-dollar rate. Considering the circumstances of their debt etc, this should result in so few dollars for all of that peso deposits. How can people expect to live on such a few dollars. Is the IMF or basically the US going to just fix a favorble Peso-dollar rate so that Argentina and its peso deposits are worth something after the "dollarization" ? Or are they just going to print a lot of dollars and hand them over as loan to the already heavily indebted Argentina ? Any one care to shed more light on this "dollarization"?

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