“Welcome competition between provincial currencies”, says the Argentine president about the measure taken by the government of La Rioja
The president of Argentina, Javier Milei, celebrated that the government of the province of La Rioja, in the northwest of the country, has announced that it intends to issue an alternative currency to the peso to “fill the lack of resources” faced by the region.
“And to think that during the campaign they treated me like a crazy person for postulating a scheme in which there was free exchange rate competition and now they are promoting it”, wrote Milei on Tuesday night (January 16, 2024) on her profile on X (ex-Twitter).
“Please welcome the competition between provincial currencies, which, I want to emphasize, unlike in the past, will in no way be rescued by the federal government”, he declared.
According to the newspaper Clarinthe governor of the province of La Rioja, Ricardo Quintela, said that Milei's government is to blame for the lack of resources to pay public employees.
The politician claimed to have asked for 9 billion Argentine pesos, but Casa Rosada “turned a deaf ear to the request, leaving aside the needs” regional.
“The currency works with a percentage in cash and a percentage in securities. These bonds are received by the province to pay services, taxes and fees”, he declared. He did not say whether the alternative currency would be virtual or physical. He also did not say when it would go into circulation.
At the X (former Twitter), Quintela thanked the support given to the measure and stated that the initiative will allow “improve the salaries of public administration workers and reactivate the local economy”.
Quintela wrote: “This is the path we must follow given the lack of response from the federal government regarding funds that legitimately belong to the province”.
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