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LA NACION 1.7.2024 by Gabriela Origlia CÓRDOBA.- Five months after its approval, “the Chachos” finally begin to circulate in La Rioja. They are the Debt Cancellation Bonds (Bocade) that Governor Ricardo Quintela decided to issue after the Legislature authorized it in February.The argument is that it will strengthen the local financial circuit, “reactivating the economy and consumption.”His administration stressed that they have “a value of 1 to 1″ in relation to weight. Like any quasi-currency, it will be its course that ends up defining the exchange price.President Javier Milei confirmed that the Nation will not rescue those papers. MONETARY POLICY: THE GOVERNMENT RECEIVES THE BANKS THIS MONDAY AND THERE IS EXPECTATION FOR THE REACTION OF THE MARKETS Last night, in the interview on TN, Milei stated: “I am not going to rescue the quasi-currencies, let whoever issues them take charge;“They are going to lose value, and they deceive people with a piece of paper.”In January, when the Governor announced them, the President ironically said "welcome the provincial currencies to the competition, which, I want to point out, unlike what happened in the past, in no way are they going to be rescued by the National Government." ”. Quintela has authorization to issue quasi-currencies for $22.5 billion, of which 30% can be used to pay the salaries of public employees.According to the regulations issued by the province, the papers are used to buy “any product in participating stores and pay provincial services and taxes.” This month around $50 million will circulate for the salaries that undersecretaries, secretaries, ministers, governor and vice governor will receive.Quintela requested both the Justice and the Legislative Branch to adhere to that scheme but not to the mayors.“The idea is to begin to familiarize them with an injection of $50 million for those who have purchasing power that can withstand it or who can pay taxes,” the governor told El Tribuno.The other month we have a bonus of $50,000 for all the workers that we are going to give in Chachos. There we are going to put $3 billion into circulation, which I believe will have a very important effect, because they are incorporated into the labor market or the financial system.” This Monday, coinciding with the start of circulation of the Rioja quasi-currency, Quintela was at the San Vicente villa that was owned by Juan and Eva Perón, and gave a speech on the occasion of the 50th anniversary of the death of the three-time president. |
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