Argentinian presidential candidate Sergio Massa has pledged to launch a central bank digital currency (CBDC) if elected to \u201csolve\u201d Argentina\u2019s long-lasting inflation crisis.<\/p>\n
\u201c<\/strong>I am clear that inflation is a huge problem in Argentina,\u201d the country\u2019s second-leading candidate said<\/a> in an Oct. 2 presidential debate, before outlining how he plans to \u201csolve\u201d the country\u2019s ravaging inflation:<\/p>\n \u201cWe are going to launch the digital currency in Argentina. […] We are going to do it globally for all of Argentina accompanied by a laundering law that allows those who have money abroad to bring it and use it freely without new taxes in parallel.\u201d<\/p><\/blockquote>\n Massa, who currently serves as Minister of Economy, shut down the idea that Argentina should move to the United States dollar:<\/p>\n \u201cDollarization is what generates the temptation of the dollar. Be patriots [and] defend our currency, do not promote the use of it [the U.S. dollar],\u201d he said.<\/p>\n Argentina\u2019s general election will take place on Oct. 22.<\/p>\n Two of three major voting polls suggest Massa is ever so slightly trailing Javier Milei,<\/a> a pro-Bitcoin and anti-central bank candidate who won Argentina\u2019s primary election<\/a> in August.<\/p>\n Data from American think tank AS\/COA suggests<\/a> that Massa will likely receive the most support in the Buenos Aires province \u2014 home to 16.6 million of the country\u2019s 46 million residents \u2014 while Milei has majority backing in the more rural parts of the country.<\/p>\n Milei has previously signaled wanting to adopt the United States dollar as Argentina\u2019s currency. As an economist and libertarian, Milei has long been a skeptic of central banking. Part of his campaign<\/a> promise is to abolish Argentina\u2019s central bank.<\/a><\/p>\n Milei previously referred to Bitcoin as a reaction against \u201ccentral bank scammers\u201d and that the Argentine peso allows politicians to scam Argentines with inflation.<\/p>\n Related: <\/em><\/strong>Argentines turn to Bitcoin amid inflation worries: Report <\/em><\/strong><\/a><\/p>\n Argentina\u2019s third-leading presidential candidate, Patricia Bullrich would reportedly pursue<\/a> a currency regime where the Argentine peso and U.S. dollar co-exist as legal tender if she wins the election.<\/p>\n The Argentine peso has fallen over 99% against the U.S. dollar since December 2023.<\/p>\n Most data suggests that Argentinian\u2019s inflation is the third highest in the world, only trailing Venezuela and Lebanon.<\/p>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-10\/947143d7-32f9-4af2-84c5-9f938a6860f3.png\")