Argentine will issue a third currency, the Argentino, to circulate alongside US dollars and Argentine pesos in January, the government said Monday.
Daniel Scioli, the new Secretary of Sports and Tourism, made the announcement after a Cabinet meeting on Monday. He said the new currency, which would not be convertible, will be used to pay government salaries and pensions, buy state supplies, and finance social plans.
The new currency is to replace 12 bonds which were issued by the central and provincial governments and circulate as a form of currency now.
"The decision of the President (Adolfo Rodriguez Saa) is to call it the Argentino and we are pushing forward with all necessary consultations to accelerate its issuance in this emergency," Scioli said.
Adolfo Rodriguez Saa was sworn in as interim president on Sunday morning to rule the troubled Latin American country until new president elections take place on March 3.
( December 25, 2001)
