Central Bank of Argentina
The BCRA controls monetary policy in Argentina.
The national currency is the Peso (ARS).
The BCRA has already considered CBDCs and issued a report in 2019.
The economy is 400 billion dollars.
There is a proposal to create a digital Peso. This proposal is from Raúl Jalil a Governor of the Catamarca Province. That province has a low income compared to the rest of Argentina.
Argentina has 50% unbanked. But 78% use the Internet and mobile connections are over a 100%.
There are not any formal plans now to issue CBDCs but Argentina has the basic framework and potential benefits to move forward in that direction.
“Given the lack of investment opportunities, and in the context of a global crisis caused by the COVID-19 pandemic, new financial instruments of the Fintech Industry (financial technology) were accelerated.” Raúl Jalil