In 1989, Hanke met Argentine President Carlos Menem, who connected Hanke and his wife, Liliane, with the libertarian faction in the Argentine Congress led by Alvaro Alsogaray, for the purpose of developing a currency reform that would end Argentina's inflation problems. Hanke was an early proponent of a currency board system for Argentina, which he outlined in a 1991 book. The book, "¿Banco Central O Caja de Conversión?" was co-authored by Kurt Schuler and included a preface by Argentine Congressman José María Ibarbia, who was a member of the Alsogaray faction.