According to Cointelegraph, Juan Agustín D’Attellis Noguera, a director of the Banco Central de la República Argentina, has publicly supported the Minister of Economy Sergio Massa's promotion of a central bank digital currency (CBDC) as a remedy for the national economy. D'Attellis expressed his belief on local TV that the 'digital peso' (PAD) could help stabilize the Argentine economy as soon as 2024. He emphasized the key feature of the CBDC is its traceability, which would help the state collect taxes more efficiently.
D'Attellis also stated that the PAD would help solve the nation's monetary problem, as the unstable local currency, the peso, often competes with the American dollar even as a payment method. He assured that the CBDC would be introduced gradually, coexisting with cash, and the final replacement of the paper bill would happen at the last stage of the project. On Oct. 2, Sergio Massa, the acting Minister of Economy and presidential candidate, pledged to launch a CBDC if elected to 'solve' Argentina's long-lasting inflation crisis. According to voting polls, Massa is slightly trailing Javier Milei, a pro-Bitcoin and anti-central bank candidate, who wants to adopt the United States dollar as Argentina's currency.