The La Rioja government has launched a campaign to defend the provincial quasi-currency. The national government had gone out to cross the province when it announced the implementation of quasi-currencies.
The spot arrives in the same week where the provincial Executive informed the market that it could not meet debt obligations for some US$ 26.2 million. On the other hand, the Supreme Court of Justice has criticized the provincial government's decision to default on its bondholders, saying it is a "recalcitrant defaulter"