La Rioja launches Chachos debt‑cancellation bonds to boost provincial economy

The Government of La Rioja (Argentina) reported that the Bonos de Cancelación de Deudas (BOCADE), known locally as “Chachos,” helped sustain economic activity during 2024. More than AR$12.0 billion was paid to provincial agents, with a nominal issuance of AR$9.0 billion. Between July and October, AR$8.8 billion (73.2% of the distributed bonds) was redeemed early, showing strong confidence among workers, merchants and companies. The program generated a multiplier effect of 1.34, meaning each peso of bond value circulated 1.34 times before redemption, increasing liquidity and consumption across the province. Over 819 businesses, from supermarkets to pharmacies and construction firms, participated.

A second phase begins on 17 August, when 50,000 Chachos will be paid to each public‑sector employee. Payments will be made through designated kiosks in the capital city and other locations, covering workers of the Secretaría General, ministries, hospitals and other agencies. The benefit is cumulative, allowing recipients who miss a payment month to claim it later without loss of entitlement.