Candidate For President Of Argentina Pledges To Advance CBDC
Sergio Massa promoted an "Argentinean digital currency" during a live, televised presidential debate.
Sergio Massa, a contender and the country's current minister of economics, surprised Argentina at the first presidential debate when he mentioned the potential for a Central Bank Digital Currency (CBDC) if he were to win.
Argentina’s Presidential Candidate Wants To Use CBDCs To "Solve" Hyperinflation
In order to "solve" Argentina's protracted inflation crisis, presidential candidate Sergio Massa has promised to introduce a central bank digital currency (CBDC).
“We are going to set in motion a digital currency for Argentina,” he said in the Sunday debate.
“Just like your children propose to trade with their phones or cards in their ‘platform economies,’ we will do it globally for all of Argentina.”
In a presidential debate on October 2, Argentina's second-place candidate stated, "I am clear that inflation is a huge problem in Argentina," before describing how he intends to "solve" the nation's raging inflation:
“We are going to launch the digital currency in Argentina. [...] We are going to do it globally for all of Argentina accompanied by a 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 the Economy Minister, rejected the notion that Argentina should switch to the US dollar:
“Dollarization is what generates the temptation of the dollar. Be patriots [and] defend our currency, do not promote the use of it [the U.S. dollar],” he said.
The general election in Argentina will be held on October 22.
Two of the three most significant polls indicate that Javier Milei, a pro-Bitcoin and anti-central bank candidate who won Argentina's primary election in August, is marginally ahead of Massa in the general election.
Milei has expressed a desire for Argentina to use the dollar as its official currency in the past. Milei has always opposed central banking as an economist and libertarian. His election pledge included abolishing Argentina's central bank.
In a recent report, Milei said that Bitcoin was a response to "central bank scammers" and that the Argentine peso permitted politicians to defraud Argentines of their money through inflation.
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