La Rioja province in Argentina creates emergency currency "chachos" due to budget cuts.

La Rioja province in Argentina has begun printing its own emergency currency, "chachos," to address budget cuts from President Javier Milei's austerity measures. With two-thirds of registered workers on the public payroll and heavy reliance on federal funds, the province faces a financial crisis. "Chachos" are intended to pay salaries and stimulate the economy but are only valid within La Rioja, drawing criticism and comparisons to past financial crises.

October 17, 2024
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