# La Rioja Chachos debt cancellation bond program > Live situation record from CLSTR: https://clstr.news/situations/la-rioja-chachos-debt-cancellation-bond-program > Updated: 2026-08-19T10:17:00.000Z. Sources: 26. Developments: 5. The government of La Rioja, Argentina, implemented the ‘Chachos’ (Bonos de Cancelación de Deudas, or BOCADE) program to stimulate the provincial economy and provide extraordinary social assistance. Established under Decrees 1100/2026 and 1110/2026, these financial instruments aim to support state employees' wages while driving provincial consumption and economic reactivation. The bonds circulate in denominations of 1,000 to 50,000, maintaining a one-to-one parity with the Argentine peso. Usage is strictly limited to the province of La Rioja. While they can be used to purchase products at participating businesses or to pay provincial taxes and services, individual beneficiaries cannot exchange these bonds for pesos at banks. To prevent counterfeiting, the government released security details including non-fluorescent security paper, visible and invisible fibers, a registered watermark, a dynamic windowed metallic thread, QR codes, and ultraviolet-reactive numbering. On August 17, 2026, Governor Ricardo Quintela relaunched the program to mitigate the loss of purchasing power caused by devaluation and a lack of national fund transfers. This phase provides 50,000 Chachos to approximately 80,000 beneficiaries—including public employees, retirees, and social program recipients—injecting 4,000 million pesos into the local economy. The reintroduction has triggered a political dispute with President Javier Milei, who criticized the initiative as a ‘new plan platita’ (money plan 2.0). Milei accused the administration of using monetary emission to fund spending, warning of potential hyperinflation. Critics have also drawn comparisons to the 2001 economic crisis, noting the province’s history of utilizing similar instruments and its 2024 debt default. By August 19, 2026, the provincial situation escalated as the La Rioja government signaled a potential default on its Green Bond, attributing the risk to the national government withholding approximately USD 1.2 billion in funds. ## Claims - Labor unions and social movements delivered a document to the Ministry of Economy demanding a debt refinancing program. (corroborated by 5 sources) - Unions demanded the Central Bank regulate interest rates for bank loans, financial apps, and digital wallets. (corroborated by 3 sources) - Governor Ricardo Quintela reissued the Chachos quasi-currency to inject 4 billion pesos monthly into the economy. (corroborated by 3 sources) - President Javier Milei criticized the La Rioja quasi-currency as a populist plan based on money emission. (corroborated by 3 sources) - SME chambers reported that over 30,600 companies have closed since December 2023, resulting in 411,000 lost jobs. (single source) - The La Rioja government claims the national government owes the province approximately USD 1.2 billion in funds. (single source) - La Rioja will not meet the capital or interest payments for its Green Bond due on August 24. (single source) ## Timeline ### 2026-08-19: Argentina: Unions protest debt while La Rioja reissues Chachos quasi-currency Argentine unions and SMEs are protesting against rising debt and business closures, while La Rioja's reintroduction of the Chachos quasi-currency sparks a political clash with President Milei. 16 sources. https://clstr.news/cluster/la-rioja-reintroduces-chachos-quasi-currency-amid-political-dispute ### 2026-08-17: La Rioja relaunches ‘Chachos’ bonds to boost local economy La Rioja, Argentina, is relaunching ‘Chachos’ (BOCADE) bonds to inject 4,000 million pesos into the economy, providing 50,000 Chachos each to 80,000 beneficiaries to combat recession and fund shortages. 5 sources. https://clstr.news/cluster/la-rioja-relaunches-chachos-bonds-to-boost-local-economy ### 2026-08-13: La Rioja introduces BOCADE bonds to stimulate provincial economy La Rioja has launched BOCADE bonds, known as ‘Chachos’, to support state workers and stimulate the local economy through a one-to-one parity with the Argentine peso. 2 sources. https://clstr.news/cluster/la-rioja-introduces-bocade-bonds-to-stimulate-provincial-economy ### 2026-08-09: La Rioja Government details security measures for Chachos bonds The La Rioja government has announced security features for the BOCADE bonds (Chachos) to prevent counterfeiting and help citizens verify their authenticity. 6 sources. https://clstr.news/cluster/la-rioja-government-details-security-measures-for-chachos-bonds ### 2026-08-05: La Rioja launches Chachos debt‑cancellation bonds to boost provincial economy La Rioja’s “Chachos” bonds distributed AR$12 bn, showed a 73% early redemption rate and a 1.34× multiplier, boosting local liquidity; 50,000 Chachos per public worker begin payments on 17 Aug. 2 sources. https://clstr.news/cluster/la-rioja-launches-chachos-debtcancellation-bonds-to-boost-provincial-economy --- Cite as: La Rioja Chachos debt cancellation bond program. CLSTR, https://clstr.news/situations/la-rioja-chachos-debt-cancellation-bond-program