Argentina presidential candidate sees CBDCs as hyperinflation solution
Argentinas frontline presidential candidate, Sergio Massa, has confirmed that he will be leaning on a central bank digital currency (CBDC) as an answer to the question of hyperinflation if elected as president. Massa, running under the Union for the Homeland party platform, disclosed his ambitious plans during a televised presidential debate with opposition candidates present. According to Massa‘s blueprint, a digital version of Argentina’s national currency will be followed by an anti-money laundering law and plans to review current taxation rules. “We are going to launch the digital currency in Argentina,” said Massa. “We are going to do it globally for all of Argentina accompanied by a laundering law that allows those who have money abroad to bring it and use it freely without new taxes in parallel.” The presidential aspirant argued that combining these factors will be key in reducing hyperinflation levels in the country. Since 2003, the Argentine peso has lost 99% of its value against the U.S. dollar, earning it the worst-performing currency among emerging nations. Given the volatility of the peso, residents have turned to the U.S. dollar and digital currencies to hedge their wealth from hyperinflation. “Be patriots [and] defend our currency, do not promote the use of it [the