As Ámbito announced, the Government confirmed this Thursday that it will move forward with the dissolution of the Valores Sudamericana company, known as the former Ciccone, and will restructure the Mint. The information was ratified by presidential spokesperson Manuel Adorni in his conference at Casa Rosada.
The spokesperson defined the institution as “a state printing press with severe inefficiencies that is responsible for printing banknotes, passports, car license plates and stamps.”
“The poor administration of the previous administration represented a true waste of resources with debts that today amount to US$371 million, a negative equity of US$78 million and a negative gross result of US$20,500,000,” Adorni detailed in Pink House.
“It should be noted that due to Kirchnerism’s decision to refuse to issue larger denomination banknotes since 2020, US$4.7 billion were spent on importing banknotes. In case it is not understood, US$4.7 billion were spent on importing banknotes to solve the Mintwho is the one who should have supplied Argentina with these bills,” he noted.
After confirming the news, Adorni stated that at the moment he has no further details of How many people will be laid off in the readjustment process of the mint, which the spokesperson defined as “the final nail in the coffin of inflation“.
Days ago, after confirming the dissolution of Argentine Trains Human Capital (DECAHF)he Government he announced that “At least four or five other state-owned companies will be closed” According to a high official source, Scope. At that time it was known that among the main ones was the Mint, in charge of printing legal tender bills and coins in Argentina.
For some time ministries have been analyzing all their structures for the purposes of detect companies that should be transferred to the private orbitin accordance with the thinking of the ruling party. The different cases are being analyzed particularly by the Minister of Deregulation and Transformation of the State, Federico Sturzenegger, and the Secretary of State Companies and Companies, Diego Chaher.
The Mintcurrently chaired by Daniel Mendezis a public, industrial and commercial company, which depends on the Ministry of Economy. Its function is to mint coins, medals, print banknotes, stamps, passports and official forms. It has more than 1,000 employees.
The authorities contemplate that in the future these requirements will be resolved through tenders. The banknotes required by the Central Bank could be imported, according to official forecasts.
Casa de la Moneda: what it is and what functions it performs
The Mint is responsible for the ticket printing and coinage coins legal tender in Argentina, as well as the issuance of stamps postcards, passports, vehicle licenses and other public documents, among various functions.
It is a public, industrial and commercial company that depends on the Ministry of Economy and, since 1875, is a leader in graphic matters of security uninterruptedly, where most of the products offered by the House are essential for the activity economic Argentina and for the functioning of the State administration.
This company stands out for the high standards of quality printing and its particularity of manufacturing them in record timewhich allowed it to become exporter of monetary papers to stop importing their own. The acquisition of a German machine improved productivity by allowing print double sidedunlike how it used to be done, one face at a time.
The CMA obtained ISO certifications and their focus on development became the only mint in the world in certifying both standards (ISO 37,001 Anti-Bribery and ISO 37,301 Compliance), whose objective is the identification and reduction of risks.
What is the Mint
Tax stamps, medals, license plates, Unique Vehicle Identification Cards, among others. Other valuable objects have their origin in Casa de Moneda, an entity that promotes constant innovation and the use of the latest technology. for the manufacture of mass printing of forms and documents, the personalization of notebooks and cards with high levels of security and the ability to digitization and prosecution of large amounts of information.
The manufacturing processes of banknotes and other documents and numismatic items of the Mint are certified by the standard ISO 9001:2015 through Bureau Veritas Certification. In addition, certification of the standard was achieved ISO 14298:21 of Printing Security Process Management at the highest level: “Central Bank Level”.
What is it responsible for doing?
The Mint takes care of print banknotes and others objectsbut before that process, it also performs the design of these, ink tests are carried out and production is activated; In each manufacturing process it provides the guarantee of strict quality and safety control mechanisms.
It is also responsible for the manufacturing of control instruments, safety documents and the design and development of software and processes of digitization. The company has a commitment to sustainability in the labor framework, where the constant evaluation of the social, economic and environmental impacts are present in its activities.
Source: Ambito
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