(17 Oct 2024)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
La Rioja, Argentina – 24 September 2024
1. Supermarket worker scanning groceries
2. Various of a family buying groceries and paying with “chachos,” a new emergency tender invented by the left-leaning governor of La Rioja
3. Supermarket owner showing stack of “chachos”
4. SOUNDBITE (Spanish) Melisa Tapia, 30, local resident:
"One to one; an Argentine peso is a peso in chachos. That is, they (stores) do not take it with a percentage less (of the value of a peso), nor is it excluded from deals in most of the stores where I have made purchases. They take it as the Argentine peso."
ASSOCIATED PRESS
La Rioja, Argentina – 25 September 2024
5. Man standing outside butcher shop by sign reading (Spanish) "We receive chachos"
6. Employees bring down meat from a truck
7. Butcher cutting meat
8. Local resident Raul Tamper and his family paying butcher with “chachos”
9. Worker counting “chachos”
10. SOUNDBITE (Spanish) Raul Tamper, 33, local resident:
"The chachos help my family to complete the pantry, the meat, and make ends meet, which is what we are all looking for."
ASSOCIATED PRESS
La Rioja, Argentina – 26 September 2024
11. Aerial of La Rioja ++MUTE++
ASSOCIATED PRESS
La Rioja, Argentina – 24 September 2024
12. Workers standing by the statue of Ángel Vicente “Chacho” Peñaloza
13. La Rioja governor Ricardo Quintela
14. SOUNDBITE (Spanish) Ricardo Quintela, La Rioja governor:
"The Nation owes more than $250 million dollars to the province of La Rioja. We do not provide that money because we don’t have it, but we don’t allow the purchasing power of the worker’s salary to decrease in the way it has diminished in other provinces. It’s attenuated a little here because we supplement their salary by 50,000 (pesos) more in chachos."
ASSOCIATED PRESS
La Rioja, Argentina – 25 September 2024
15. Woman walking by graffiti reading: (Spanish) "Milei you are hunger"
ARGENTINA PRESIDENCY
ARCHIVE: Buenos Aires, Argentina – 10 December 2023
16. SOUNDBITE (Spanish) Javier Milei, Argentina’s President:
"And unfortunately, I have to tell you again. There is no money."
ASSOCIATED PRESS
La Rioja, Argentina – 24 September 2024
17. Various of people standing in line to receive chachos
18. SOUNDBITE (Spanish) Gabriela Chanampa, 45, teacher and lawyer:
"I don’t think we, as Riojanos, deserve it; I don’t think we deserve to earn that. We deserve to earn a decent wage as workers."
ASSOCIATED PRESS
La Rioja, Argentina – 26 September 2024
++NIGHT SHOTS++
19. Various of a protest by teachers for better wages in La Rioja
20. Protesters waiving a giant Argentine flag
STORYLINE:
They look like cash, fit into wallets like cash, and the local government hopes they’ll be treated like cash.
But these brightly coloured banknotes aren’t pesos, the depreciating national currency of Argentina, or U.S. dollars, everyone’s money of choice here.
They are “chachos,” a new emergency tender invented by the left-wing populist governor of La Rioja, a province in the country’s northwest that went broke when far-right President Javier Milei slashed federal budget transfers to provinces as part of his harsh austerity package.
Across La Rioja’s capital, “Chachos accepted here” decals now appear on the windows of everything from chain supermarkets and gas stations to upscale restaurants and hair salons.
The local government guarantees a 1-to-1 exchange rate with pesos, and accepts chachos for tax payments and utilities bills.
La Rioja defaulted on its debts in February and August.
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