The government of Rioja assured this week that the implementation of “The Chachos”, the Debt Cancellation Bonds that the province issued in the middle of the year, They were a “success”, since they allowed “the economy to be reactivated and at the same time maintain consumption in the financial circuit.”
From the administration of Ricardo Quintela They explained that 13 million Chachos were injected into the local economy and recalled that the bonus It was launched with the corresponding budget forecasts, the endorsement of the Chamber of Deputies of La Rioja, the support of local business, industrialists and citizens.
This financial tool will also allow the province of La Rioja to specify an end-of-year bonus that will be paid in pesos for the workers of the Provincial Public Administration.
Support for the economic circuit
The Chachos, as Governor Quintela projected, were successful in their application within the province’s economy, helping the economic circuit that suffers the vicissitudes of libertarian actions. In this sense, it is necessary to highlight that the end of circulation, on December 31, was provided for by law.
The BOCADE “Chacho” was approved on January 17 of this year, by the Rioja Legislature, after an extraordinary session called to discuss the bill.
Said project was sent by Quintela, as a result of the lack of sending resources for federal co-participation on the part of the national State, and in it it was proposed that the Chachos be presented in values of 1,000, 2 thousand, 5 thousand, 10 thousand, 20 thousand and 50 thousand to brighten the pockets of the workers of La Rioja, In this way, generating an economic circuit that allowed sales to not fall for local businesses, keeping the economic circuit active and providing a purchasing tool for the workers’ pockets.
It should be noted that in the first instance, the BOCADE was paid in the salaries of officials and area directors of the Provincial Public Administration, and then, to all agents, as an extra bonus to the salary they receive, as well as to the workers. linked.
The bonds that had entered circulation in the province on July 1 of this year will cease to circulate as of December 31, the date provided for by provincial law 10703.
The Chachos maintained a value of 1 to 1 with the Argentine peso and were implemented to reactivate the economy, within the framework of a growing economic crisis and the lack of funds from the national government headed by the president of La Libertad Avanza, Javier Milei. .
Injection
As a financial tool, the Ministry of Finance and Public Finance of the Province reported that they injected 12,295,191,000 million Chachos Bonds to the virtuous wheel of the economy, from August to October, which was received by agents of the provincial public administration as an extra payment to their salaries in pesos, and which was received by local merchants.
It should be noted that the bonus was accepted by businesses in La Rioja and also in other neighboring provinces such as Córdoba and Mendoza, making a total of 839 businesses registered for the rescue of Los Chachos. This is not to mention that many SMEs received the bonuses and used them to pay their suppliers without needing to be registered.
In that sense, the businesses that received Los Chachos and are going to definitively rescue them will receive a percentage of 17 percent of their nominal value.
Source: Ambito
