This Tuesday, the governor Ricardo Quintela sent a project for The Rioja can issue its own currency. From Davos, the president Javier Miley He targeted the initiative on social media and issued a harsh warning.
«To think that in the campaign They treated me like crazy for postulating a scheme in which there was free competition of currencies and now they promote it…!!!«wrote the president on his social network account X.
Immediately, he celebrated the idea, but left a warning: «Welcome the provincial currencies to the competition, which, I want to point out, unlike what happened in the past, in no way are they going to be rescued by the National Government«.
In this sense, the head of state pointed out the value that the bond that La Rioja could issue will have in the market, if the local Legislature approves the project: “At the same time, the price that they have with respect to parity will give a market evaluation of the quality of the Government that issues it…!!! Therefore: LONG LIVE THE COMPETITION, LONG LIVE THE FUCK FREEDOM«.
To think that during the campaign they treated me like a crazy person for postulating a scheme in which there was free currency competition and now they are promoting it…!!!
Welcome the provincial currencies to the competition, which, I want to point out, unlike what happened in the past, of… https://t.co/R32q3gGiyh— Javier Milei (@JMilei) January 16, 2024
Finally, Milei once again questioned the administration of the provinces, an issue that he had highlighted over the weekend, when he accused Quintela of spending public money to hire the singer Lali Espósito for the 2023 La Chaya Festival: “No leave aside that the Nation has had to face the correction of a deficit of 15% of the GDP, while all the provinces together add up to 1% of the GDP. With such an advantage, unless they are VERY BAD, they would have to be quoted far above par…«.
Quasi-currencies in La Rioja: Quintela sent the project to the Legislature, what does the initiative say?
“In this context The issuance of bonds is not new for the provincea tool that was used at different times to face crises resulting from the unpredictability of federal co-participating resources,” they maintain in the introduction of the project, which is 11 pages long.
Along these lines, they review the other two times in which the Riojan administration agreed to generate its own currency to sustain the national economic situation: «The first issue dates back to the government of Carlos Menem in 1985 (Law No. 4534) and the last in 2001 (Law No. 7113) that responded substantially to comply with salary obligations and the provision of services.
«The present project that is proposed for consideration by the Chamber of Deputies, seeks to provide the province with a tool that combines new technologies, with the imprint of economic reality»he adds at the end of the introduction.
The Riojan governor asserted that the economic crisis was what drove this initiative, aggravated by the extension of the 2023 Budget and the liquefaction of provincial funds.