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Strategies & Market Trends : Asia Forum
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To: DMaA who wrote (7897)1/22/1999 9:51:00 AM
From: Henry Volquardsen  Read Replies (1) of 9980
 
Brazil and Russia don't have the money to pull it off so I doubt it would happen.

Argentina is another matter. They are already operating under a currency board arrangemenet. The "dollarization" being rumoured would just be a logical extention of the currency board, just more stringent. My own suspicion is that it is just a matter of time before we see this occur in Argentina. It will have short term negative impacts on the Argentinian economy as it will lose some competitiveness due to the inevitable Brazilian currency weakness (there is some strong protectionist talk in the Argentinian press this morning from the FrePaSo-Union Civica Radical Alliance, the favorites to win the next presidential election, in response to the Brazilian devaluation). But in the long run this will result in significant benefits, particularly from lower interest rates. So Argentina si, Brazil and Russia no.
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