Juan Agustín D’Attellis Noguera, a director of Banco Central de la República Argentina (the country’s central bank), has declared his support for Economy Minister Sergio Massa and his plan to introduce a central bank digital currency (CBDC) to improve the national economy. During an interview on local television, Noguera expressed his view that the “digital peso” could be a stabilizing force by 2024. He pointed out the traceability of the CBDC as a key factor in broadening the tax base and increasing revenue without raising taxes. In addition, he believes that the CBDC could reduce competition between the Argentine peso and the U.S. dollar as payment methods.
Noguera sees the digital peso as being gradually introduced, such that it will ultimately replace cash. Conversely, Massa’s rival, Javier Milei, has proposed adopting the U.S. dollar as the official currency.
In conclusion, the CBDC could be a possible solution to Argentina’s long-standing inflation crisis.
