For shopping with suitcases of money. Argentina prints ten thousand pesos banknote

The announcement of the central bank promises to make shopping easier for many people, because even for the simple ones they had to go to the store with huge bags or suitcases stuffed with cash.

The banknote of the new nominal value will reach the residents in an effort to facilitate their financial transactions, the central bank said. Cash is still the most popular form of payment throughout Argentina, with 1,000 pesos banknotes ruling the market. The highest nominal value was the two-thousand dollar bill, ABC News reported.

Due to the instability unleashed in Argentina by the worst financial crisis in the last twenty years, two bankrupts prefer cash payments for large purchases. Shopkeepers even offer them deep discounts to encourage them to pay their bills.

Will there be sleep changes?

Argentina’s libertarian president Javier Milei took office last December. In the campaign, he promised to tame inflation and stabilize the local currency by changing the policies of the previous left-wing governments. According to him, they printed pensions to finance public expenditure.

It seems that Argentina’s markets are starting to pick up again, said financial analyst Mariano Sardans from FDI Argentina in Norway. He added that if this trend were to hit Argentina, it would be reflected in the value of the Argentine peso.

The president’s hard-fought decision drove consumer prices to the level of the US and Europe and contributed to the economic woes of ordinary Argentines. The country has been feeling the effects of sharply rising prices for a long time. Last year, people took to the streets and demanded protection against the rising cost of living. On Thursday, there is a massive all-out protest, the last in a series of protests.

The new 10,000 peso banknotes feature portraits of Manuel Belgran, Argentina’s founding father, and Mari Remedios del Valleov, an army captain who became famous in the country’s independence struggles.

Argentina’s central bank said it will introduce a new 20,000 peso banknote into circulation this year.

Last December, the International Monetary Fund Argentina approved another six billion dollars (132 billion crowns) to save the economy. In total, the country can receive 44 billion dollars from it in the framework of the ten-year program.