Argentina will issue 20,000 and 50,000 peso bills due to high inflation

President Javier Milei confirmed that the Central Bank is preparing the issuance of 50,000 and 20,000 peso bills before the high inflation and the multiple complications that the lack of a higher denomination paper than the current one brings to the economy.

The measure was announced in an interview with the LN+ channel, which also criticized that the Government of Alberto Fernández (2019-2023) was reluctant to issue banknotes with a denomination greater than 2,000 pesos (approximately $2).

“The issue of tickets is torture. Imagine that you have to make a cash payment. “You have to carry a bundle of papers and that puts a label on your forehead that says ‘steal here’, because it is obvious that you are carrying money there.”critical Milei.

According to the Argentine president, an economist by profession, the fact that having to handle large quantities of banknotes increases costs, in addition to making purchases and sales difficult.

And if the measure was not adopted by the previous Administration, it was, according to Milei, to avoid having to recognize the accelerated inflation, which in the four years of Alberto Fernández’s mandate accumulated 814%,

The decision, which is expected to be applied next March, had already been anticipated by the president of the Central Bank, Santiago Bausilli, to the financial entities, but was awaiting confirmation from the new head of the Mint, details the Ámbito newspaper.

Precisely, the Official Gazette of the Argentine Republic publishes this Wednesday the appointment of Daniel Méndez as the new president of the institution, replacing Angel Mario Elettore, who in January of this year had replaced Rodolfo Gabrielli in the position.

He will also be in charge of executing the issuance of said tickets.