President Javier Milei’s administration has shifted from campaign pledges of full dollarization and central bank abolition toward a managed crawling exchange rate band system implemented in January 2026, with bands widening monthly based on recent inflation to support reserve accumulation and debt servicing. Public statements indicate limited citizen support for replacing the peso, reducing near-term political momentum despite ongoing fiscal reforms and projected GDP growth. Dollarization would require substantial foreign reserves, congressional approval, and broad institutional backing that remain absent through mid-2026. Traders therefore assign low implied probabilities to completion by late 2026, viewing the current stabilization approach as the dominant path absent major legislative or economic shifts before Milei’s term advances.