President Javier Milei’s administration has prioritized fiscal surpluses, inflation reduction to under 3% monthly, and a managed peso float within widening exchange-rate bands since lifting most capital controls in April 2025, supported by an IMF program and U.S. swap lines. These steps, alongside central-bank reserve accumulation and proposals to reform the BCRA charter toward peso-value protection without government financing, have advanced currency competition and informal dollar use rather than formal adoption of the USD as legal tender or a full peg. No legislation or executive action has initiated official dollarization, and congressional hurdles plus improving stabilization metrics continue to favor the current path. Traders assign low implied probability to completion by December 31, 2026, reflecting the absence of near-term catalysts, with upcoming IMF reviews, debt-service timelines, and 2027 electoral pressures as key variables that could influence momentum.