Defying Milei, opposition governor Quintela brings back his ‘chachos’ currency in La Rioja
The return of the ‘chacho’ currency, which circulates only in opposition-led La Rioja Province, exposes a stubborn reality lying just beneath the President’s radical reform agenda. Leer más
Argentine opposition governor Ricardo Quintela is reintroducing a local currency called "chachos" in La Rioja, a province struggling economically. The currency, which is worth the same as the regular peso, will be given to around 80,000 public workers and beneficiaries to boost consumption. This move comes as President Javier Milei pushes for free market reforms, but La Rioja's economy remains stagnant with a high dependence on the public sector and a lack of private investment.
Quintela sees the chachos as an "act of rebellion" against Milei's policies, threatening to reverse them if he loses the upcoming election. Despite President Milei's efforts to cut public spending and shrink the state, La Rioja continues to rely heavily on government funding and public-sector wages, making the local government the primary engine of growth.
Written by urgent.news from Buenos Aires Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
