Milei slams governor's 'Plan Platita 2.0' quasi-currency as 'delusion'

Argentine President Javier Milei sharply criticized the governor of La Rioja, Ricardo Quintela, for his plan to issue a local quasi-currency known as "Chachos." Milei took to social media, dubbing the initiative "Plan Platita 2.0" and accusing the Peronist movement of consistently advocating for increased spending, financed through money printing.

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Plan Platita 2.0. The Peronist always proposes to spend more. And always proposes to pay for these delusions with money printing.

Milei warned that if the previous Kirchnerist administration had remained in power, Argentina would have faced hyperinflation, with poverty rates soaring and a significant portion of the formal workforce falling below the poverty line. He characterized such policies as a "recipe for slavery" that uses social assistance to perpetuate poverty.

The government of La Rioja reintroduced the "Chachos," officially called Bonos de Cancelación de Deuda (Bocade), to stimulate the local economy and consumption. Provincial authorities cited the national government's failure to send federal funds, coupled with devaluation and austerity measures, as reasons for the deep crisis affecting all provinces.

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The recipe for slavery from the impulse of poverty using assistance as a means.

These quasi-currencies, designed to circulate at a 1:1 parity with the Argentine peso, aim to strengthen the local financial circuit. Backed by over 800 affiliated businesses, the "Chachos" will be available in denominations ranging from 1,000 to 50,000 pesos. They can be used for general purchases, provincial taxes, municipal fees, and services from state-owned companies, with a redemption deadline of December 29. An extraordinary reinforcement of 50,000 "Chachos" per person began distribution on August 17, targeting approximately 80,000 state workers and related sectors, injecting an estimated 4 billion pesos into the regional economy.

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the non-sending of funds coparticipable, the devaluation, the adjustment and the deep crisis that all the provinces are going through.