Argentinian presidential candidate wants CBDCs to 'solve' hyperinflation
Argentinian presidential candidate Sergio Massa has pledged to launch a central bank digital currency (CBDC) if elected to “solve” Argentina’s long-lasting inflation crisis.
“I am clear that inflation is a huge problem in Argentina,” the country’s second-leading candidate said in an Oct. 2 presidential debate, before outlining how he plans to “solve” the country’s ravaging inflation:
Massa, who currently serves as Minister of Economy, shut down the idea that Argentina should move to the United States 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.
Argentina’s general election will take place on Oct. 22.
Two of three major voting polls suggest Massa is ever so slightly trailing Javier Milei, a pro-Bitcoin and anti-central bank candidate who won Argentina’s primary election in August.
Data from American think tank AS/COA suggests that Massa will likely receive the most support in the Buenos Aires province — home to 16.6 million of the country’s 46 million residents — while Milei has majority backing in the more rural parts of the country.
Milei has previously signaled wanting to adopt the United States dollar as Argentina’s currency. As an economist and libertarian, Milei has long been a skeptic of central banking. Part of his campaign promise is to abolish Argentina’s central bank.
Milei previously referred to Bitcoin as a reaction against “central bank scammers” and that the Argentine peso allows politicians to scam Argentines with inflation.
Related: Argentines turn to Bitcoin amid inflation worries: Report
Argentina’s third-leading presidential candidate, Patricia Bullrich would reportedly pursue a
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