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 Record Gold Buying by Central Banks Expected to Continue, According to TDS READ MORE $7.7 Billion in Student Debt Canceled for 160,500 Borrowers Under New Biden Plan READ MORE The Case for the Silver Bull Market READ MORE Report: Singapore Positioned to Emerge as Major Global Gold Hub READ MORE Leading Economic Index Suggests U.S. Recession Fears Receding READ MORE Add a Comment Cancel replyYour email address will not be published.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