This is the “Chacho”, the Rioja quasi-currency

Ángel Vicente “Chacho” Peñaloza was born in the Riojan town of Malanzan. The Argentine soldier was one of the last leaders of the federal current to take up arms against the centralism of Buenos Aires. Beginning his career as lieutenant of Facundo Quirogathe leader fought against the unitary hosts of Lamadrid in the battle of The Tala and in successive conflicts at the time of the organization of the Argentine state. Once established as regional chief, the war against the national government cost him his life, and he was murdered and beheaded by the militias in 1863.

The Debt Cancellation Bonds (BOCADE), known by Riojans as “El Chacho”, has the image of this renowned Cuyo leader, revered as a provincial hero. The payment instrument was approved last month in the provincial Legislature and will come into force in 45 days, to cancel the debts of The Rioja.

In accordance with the regulations, the bonds will have the denominations of $1,000; $2,000; $5,000; $10,000 and $50,000 and its issuance reaches $15,000 million. They will be of official circulation in the province and can be operated with the Rioja Bank, or other authorized banking entities. The method of accreditation of the amounts deposited in bonds will be in a checking account or savings account or other forms of bank deposit.


“The first to receive the bonus are the officials of the Executive Branch: the peso is devalued, the bonus is not,” said the governor of La Rioja, Ricardo Quintela. In this sense, the Peronist leader recalled that the law states that up to 30 percent of the salaries of state employees can be paid, and stated that they are going to define how much they will pay with the quasi-currency.

“Approximately in 45 days we will have the physical issuance of the bonus and then we will define how they will be distributed, that is, the percentage of the salary that will be paid in dollars,” the provincial leader highlighted to the local media Nueva Rioja.

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