Defying Milei: Argentine Province Prints Its Own Money to Survive The Argentine province of La Rioja has introduced its own currency, the “chacho,” to combat economic hardships resulting from President Javier Milei’s austerity measures. Governor Ricardo Quintela implemented this quasi-currency to stimulate the local economy after federal funding cuts led to provincial default. The chacho, distributed to government employees as bonus payments, is accepted by local businesses at a 1:1 ratio with the peso. While the move has provided some economic relief, it also highlights the financial struggles of provinces under Milei’s strict fiscal policies and raises questions about the sustainability of such local currency initiatives. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts High Interest Rates Likely Dampened Americans’ Economic Mood: Study READ MORE Gold Rally Hits Crucial Juncture: $2,075 Level in Sight for a Major Breakout READ MORE Rethinking Economic Forecasting: Central Banks Address Inflation Prediction Failures READ MORE Gold Inches Higher as Markets Await Powell's Testimony and Inflation Data READ MORE Treasury Secretary Yellen: Debt Burden Sustainable at Current Levels READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment