Several countries are seriously considering the abandonment of their currency and its
formal replacement with the U.S. dollar. Since 1991, Argentina has backed its currency
with 100 percent reserves and successfully pegged it to the dollar. In doing so, it has
already grappled with many issues that confront would-be adopters of the dollar. Moving
to full-fledged dollarization might offer a solution to recurring crises that are partly
driven by expectations that Argentina might abandon its peg.