La Rioja introduces BOCADE bonds to stimulate provincial economy

The Government of La Rioja has introduced Debt Cancellation Bonds (BOCADE), colloquially known as ‘Chachos’, as a form of extraordinary social assistance. Established under Decree 1100/2026 and 1110/2026, these financial instruments aim to support state employees' wages while stimulating provincial consumption and economic reactivation.

The bonds circulate in denominations of 1,000, 2,000, 5,000, 10,000, 20,000, and 50,000, maintaining a one-to-one parity with the Argentine peso. They can be used to purchase products at participating businesses or to pay provincial taxes, fees, and services, including Gross Income tax, automotive tax, and utility bills for providers such as EDELAR, Aguas Riojanas, and Internet para Todos.

Usage of ‘Chachos’ is strictly limited to the province of La Rioja. Notably, individual beneficiaries cannot exchange these bonds for pesos at banks or redemption centers; the redemption mechanism is specifically designed for participating merchants.