The president of Argentina, Alberto Fernandez, has suggested that he’s amenable to the idea of crypto taking part in a bigger position in Argentina’s financial system, regardless of his own skepticism.
Throughout an interview on Caja Negra, aired by Filo.news yesterday, Fernandez was asked if he would consider making use of a central bank digital currency, or maybe even emulate El Salvador and undertake Bitcoin as the authorized lender. “I do not wish to go too far out on a limb however there isn’t any cause to say ‘no,’” Fernandez stated. “Maybe that is a good path to take.”
“They are saying the benefit is that the inflationary impact is largely nullified,” he explained.
Inflation is likely one of the most delicate points in Argentine politics. Fernandez inherited the second-most “miserable” economy in the world, in line with Bloomberg’s World Misery Index, from the former president and businessman Mauricio Macri. In line with the government’s personal data on inflation, $100 at the beginning of Macri’s time period could be equal to $661 as we speak.
The nation additionally imposes robust currency exchange controls, which precipitated a growth within the black marketplace for overseas forex—one thing very totally different from the Salvadoran actuality, where the U.S. dollar is legal tender.