The media explained that the reason was the high cost of issuing banknotes in denominations of 1000 and 2000 pesos (0.98 and 1.9 dollars). According to some reports, the Central Bank has already terminated the relevant contract with the national mint. The staff of the institution was sent on forced leave.
Photo: ru.freepik.com
The publication noted that there are now enough of these banknotes in the country, which makes the cost of issuing them unjustified. Argentina wants to satisfy the need for larger funds by supplying them from China.
Thus, by the end of this year, banknotes printed in China with a face value of 20,000 pesos ($19.6) will arrive in the country. Their production in China cost the Latin American state twice as much as at its mint.
Recall that in mid-September it was reported that in August consumer prices in Argentina increased by 236.7% year on year. Accumulated inflation has been almost 95% since the beginning of 2024.
