Milei's contradictions: Chinese company to print Argentine banknotes

Published at: 02/12/2024 05:00 PM

Despite the fact that the far-right president of Argentina, Javier Milei, stated that he would not do business with China, his government granted a company from the Asian giant the printing of banknotes of 20,000 pesos, after the closure of the Ciccone engraving plant.

This is China Banknote Printing and Minting Corporation (CBPMC), a company that far surpassed the Brazilian Mint and the American company Crane, with a better offer.

Faced with the severe economic crisis in Argentina, Milei prioritized approaching China in search of investment and financing, in a decision that seeks to save resources.

Some economists warn about the risks of encouraging inflation and informality in the economy, around the printing of high-denomination banknotes.

Mazo News Team