Argentina’s presidential candidate Sergio Massa has pledged to release a central bank virtual currency (CBDC) if elected to “solve” Argentina’s protracted inflationary crisis.
“I am convinced that inflation is a huge challenge in Argentina,” the country’s second candidate said in a presidential debate on October 2, before laying out how he plans to solve the country’s devastating inflation:
Massa, recently Economy Minister, rejected the idea of Argentina moving closer to the US dollar:
“Dollarization is what generates the temptation of the dollar. Be patriotic [and] protect our currency, don’t inspire its use [of the U. S. dollar],” he said.
General elections in Argentina will be held on October 22.
Two of the three primary polls suggest Massa is more like Javier Milei, a pro-BTC, anti-central bank candidate who won Argentina’s first election in August.
Data from the U. S. -based think tank AS/COA suggests Massa is most likely to get the most in Buenos Aires province (home to 16. 6 million of the country’s 46 million people), while Milei will have a majority in the country’s more rural regions.
Milei has already indicated that it will adopt the US dollar as its currency. As an economist and libertarian, Milei has long been skeptical of central banks. Part of his election promise is to abolish Argentina’s central bank.
Milei had in the past called Bitcoin a reaction against “central bank scammers” and said the Argentine peso allowed politicians to scam Argentines with inflation.
Related: Argentines to Bitcoin amid inflation concerns: report
Argentina’s third presidential candidate, Patricia Bullrich, has reportedly followed a regime in which the Argentine peso and the US dollar would coexist as legal tender if she wins the election.
The Argentine peso has fallen more than 99% against the United States since December 2003.
Most knowledge suggests that Argentina’s inflation is the third highest in the world, behind Venezuela and Lebanon.
Magazine: Should young people take the “orange pill”?The Case for Bitcoin Children’s Books