The Argentine Chinese-Owned Supermarket Chamber, which is connected to 5,700 of the markets throughout the whole of the country, has had the idea of handing out tickets to customers when the change runs out. The plan from this scheme is to maintain customer loyalty throughout the country and save the chain around $120-$160 dollars a week. This is from the illegal coin holders that have sprung up across the country ever since the shortage happened last year. This black market is thriving at the moment, as these coin holders will travel across the city to supply their customers, with interest rates of 15%.
With the state of the current economy it has been not that people dont have the money so much as the dont want to spend it. Saving it rather than spending. This is exactly what has been happening in Argentina- people are hording the coins, rather than spending them. The Argentine government has put millions upon millions of coins into circulation to try and solve the problem, only to see the coins being horded. The coins are mainly used for the transportation system, which has recently introduced a ticketing system that has costs $57 million to implement to try and keep the coins in circultaion. This was also to stop the 3% interest that the transport companies were putting on the price of exchanging coins, as a 'disposal fee'.
Is there light at the end of the tunnel for the countries money problem? Putting in the new prepaid card system for transport, and the recent newly minted 136 million new coins in the first three months this year. It may be the beginning of Argentina beginning to crawl out of it.
![[Valid RSS feed]](http://www.article-profit.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
