The Argentine presidential candidate wants central bank digital currencies to “solve” hyperinflation Cryptocurrency scrgruppen

Argentine presidential candidate Sergio Massa has pledged to launch a central bank digital currency (CBDC) if elected to “solve” Argentina’s long-running inflation crisis.

I’m clear that inflation is a huge problem in Argentina, the country’s second favorite He said In a presidential debate on October 2, before explaining how he planned to “solve” the country’s devastating inflation:

“We will launch the digital currency in Argentina. […] “We will do this globally for all of Argentina accompanied by a money laundering law that allows those who have money abroad to bring it and use it freely without new taxes in parallel.”

Massa, who is currently Economy Minister, dismissed the idea that Argentina should move to the US dollar:

“Dollarization is what generates the lure of the dollar. Be patriotic [and] Defending our currency, not promoting its use [the U.S. dollar],” He said.

General elections are scheduled to be held in Argentina on October 22.

Two of the polls’ three main polls show Massa trailing slightly behind Javier Miley, a pro-bitcoin, anti-central bank candidate who won Argentina’s primary in August.

Argentine voter preferences across three separate polls. Source: AS/COA.

Data from the American Research Center AS/COA She suggests Massa is likely to get the most support in Buenos Aires province – home to 16.6 million of the country’s 46 million people – while Miley has majority support in rural areas of the country.

Miley has previously indicated her desire to adopt the US dollar as Argentina’s currency. As an economist and libertarian, Miley has long been a skeptic of central banks. Part of it campaign The promise is to abolish the Argentine Central Bank.

Miley previously referred to Bitcoin as a response against “central bank crooks” and that the Argentine peso allows politicians to cheat Argentines with inflation.

Related: Argentines Turn to Bitcoin Amid Inflation Fears: Report

Argentina’s third presidential candidate, Patricia Bullrich, will reportedly be a running mate He investigates A currency system where the Argentine peso and the US dollar coexist as legal tender if it wins the election.

The value of the Argentine peso has been denominated in US dollars since 2003. Source: Google Finance.

The Argentine peso has fallen by more than 99% against the US dollar since December 2023.

Most data indicate that Argentina’s inflation rate is the third highest in the world, behind only Venezuela and Lebanon.

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