President Javier Milei believes that the market will ultimately decide on the value of the projects.
Argentine President Javier Milei promised not to oppose provinces’ attempts to launch their own currencies after a public exchange between Milei and the governor of La Rioja province, Ricardo Quintela.
On Jan. 14, during an interview with Radio Mitre, Milei confirmed that he would not legally oppose the creation of local currencies by provincial authorities in Argentina. The president believes that the market will ultimately decide on the value of the projects, but he warned that “quasi-currencies” will spur up inflation and those accepting them will end up scammed:
Quintela, the governor of La Rioja, intends to create a separate currency for the province after Milei devalued the Argentine peso by 50% after taking office on Dec. 10, 2023, to tame soaring inflation in the country, which is at its highest levels in 32 years. The new president also cut the funds allocated from the federal budget to provinces.
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Source: https://cointelegraph.com/news/argentine-president-provinces-circulate-currencies