Argentina's La Rioja Creates Chacho Currency to Offset Austerity

Sep 3, 2024, 12:25 PM

A remote province in Argentina, La Rioja, has created its own currency, the chacho, to mitigate the financial impact of President Javier Milei's radical austerity measures. Since his election last November, Milei has implemented harsh economic policies that have significantly affected regions like La Rioja. The governor of La Rioja dialed up his own radical plan by introducing the new currency, which aims to revive the local economy and offset the financial toll of these austerity measures.