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, reviewed BeInCrypto Intelligence's new LATAM report 'The Exodus Economy' and says Argentina should follow, before the next government undoes Milei's progress.

An Argentine who kept the equivalent of $10,000 in peso cash from June 2016 to June 2026 would have ended with about $114 in US-dollar value.

That is one of the starkest findings in BeInCrypto Intelligence's new report, The Exodus Economy. Nearly 99% of the money's dollar value disappeared over ten years as inflation and currency depreciation compounded.

The damage extended beyond cash. A local Argentine term deposit reduced the loss, but still preserved only 44% of its starting purchasing power. By comparison, a Brazilian CDI-linked deposit gained 50% in real terms over the same period. A Mexican deposit gained 30%.

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