The governor of La Rioja, Ricardo Quintela, a member of the Peronist opposition, announced this Wednesday (17) the creation of a “quasi-currency” to pay for the salaries of public servants in the province, following cuts in federal funding by Javier's government. Milei.
The “bocade”, as the new currency was called, has already been approved by the provincial legislature and will pay 30% of the salaries of state employees. According to Quintela, it is “a debt cancellation title”, which his management was “forced to promote to pay off debts and pay salaries due to the cruelty of the adjustment” applied by the federal government.
“Quasi-coins” are added to monetary circulation by the provincial administration together with the peso and can be used as a means of payment only in La Rioja. With them, the State will be able to fulfill its obligations and somehow compensate for the lack of liquidity.
The project approved by the Legislature authorized the issuance of 22.5 billion Argentine pesos (the equivalent of R$91.2 billion, using parallel exchange rates).
Javier Milei's government announced that one of its goals for the four years at the helm of Casa Rosada is to reduce state spending by 5.2%. Part of this cut will be achieved with the reduction of transfers to the provinces, subsidies and the deregulation of the economy in general.
On social network X, the Argentine president celebrated Quintela's move. “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. Welcome the competition between provincial currencies, which, I want to emphasize, unlike what happened in the past, will in no way be rescued by the federal government”, wrote Milei.
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