News / Economy

Argentina Warns Businesses not to Reject Evita Bank Notes

Argentina's president Cristina Fernandez unveils the new 100-peso bill bearing the profile of former first lady Maria Eva Duarte de Peron, better known as "Evita," at government palace in Buenos Aires, July 25, 2012.
Argentina's president Cristina Fernandez unveils the new 100-peso bill bearing the profile of former first lady Maria Eva Duarte de Peron, better known as "Evita," at government palace in Buenos Aires, July 25, 2012.
Reuters
Argentina's central bank has warned businesses to stop rejecting commemorative bank notes bearing the image of Eva Peron to mark the 60th anniversary of the iconic former first lady's death.
 
President Cristina Fernandez, whose fiery speaking style often prompts comparisons with that of “Evita”, unveiled the 100 peso bills emblazoned with her profile a year ago.
 
But publicity surrounding the newly-minted notes was not wide enough to overcome doubts from small businesses where cashiers have rejected the bills for being unfamiliar.
 
So the central bank this week launched a hotline for people to report those who refuse to accept the bills, threatening to fine those who keep turning them away.
 
“The 100-peso bills with the image of Maria Eva Duarte de Peron are legal tender and must be accepted by all retailers and financial institutions,” the central bank said in a statement this week.
 
Each is worth about $18.5 according to the official exchange rate.
 
Even if the bills are not widely accepted, Evita's image is very much alive in Argentina's political life six decades after she died of cancer at the age of 33.
 
Fernandez has increased the role of the state in Latin America's No. 3 economy and is roundly criticized by business for imposing heavy trade and foreign currency market regulations that hurt investor confidence. The 60-year-old president often invokes Evita's memory in speeches.
 
Just before the president's 2011 re-election she unveiled a huge portrait of Evita on side of the Health Ministry building.
 
Evita was married to late President Gen. Juan Peron and is adored by many Argentines for helping women get the vote, advocating for workers' rights and founding orphanages.
 
Fernandez belongs to the Peronist party that has dominated Argentine politics since the late 1940s heyday of Peron and Eva.
 
Financial management has not been the strong suit of the Peronists. Inflation exploded under the general's rule and consumer prices in Argentina today are rising by about 25 percent annually, while the peso currency's black market rate is 48 percent weaker than the official rate.
 
Some cashiers have snubbed the Evita notes because they did not recognize them as legal tender. Others turned their backs on the bills for political reasons.
 
“There are always people who don't like Fernandez and Evita and just don't want to touch them,” said a cash register worker in Buenos Aires, declining to give his name.
 
“But the problem is mostly that people are not sure whether this is real money or not because the design is unfamiliar.”

You May Like

Mood Tense Ahead of Scotland Independence Vote

As race to persuade undecided voters continues, No voters say they believe life in Scotland will slowly improve and do not want to take a risk by endorsing independence More

South Africa’s 'Open Mosque' Admits Everyone, Including Critics

Open Mosque founder plans to welcome gay worshipers and allow women to lead prayers More

Ukrainian Activist in Despair About Future of Her Country

IrIna Dovgan, accused of being a spy and tortured by pro-Russian separatists, is appealing to UN Human Rights Council to support her country More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
NASA Picks Boeing, SpaceX to Carry Astronauts Into Spacei
X
September 17, 2014 4:20 AM
The U.S. space agency, NASA, has chosen Boeing and SpaceX companies to build the next generation of spacecraft that will carry U.S. astronauts to the International Space Station by the year 2017. The deal with private industry enables NASA to end its dependence on Russia to send space crews into low Earth orbit and back. Zlatica Hoke has more.
Video

Video NASA Picks Boeing, SpaceX to Carry Astronauts Into Space

The U.S. space agency, NASA, has chosen Boeing and SpaceX companies to build the next generation of spacecraft that will carry U.S. astronauts to the International Space Station by the year 2017. The deal with private industry enables NASA to end its dependence on Russia to send space crews into low Earth orbit and back. Zlatica Hoke has more.
Video

Video Future of Ukrainian Former President's Estate Uncertain

More than six months after Ukraine's former President Viktor Yanukovych fled revolution to Russia, authorities have yet to gain control of his palatial estate. Protesters occupy the grounds and opened it to tourists but they are also refusing to turn it over to the state. VOA's Daniel Schearf reports from Mezhigirya, just north of Kyiv.
Video

Video China Muslims Work to Change Perceptions After Knife Attacks

China says its has sentenced three men to death and one woman to life in prison for a deadly knife attack in March that left more than 30 dead and 140 injured. Beijing says Muslim militants from China's restive western region of Xinjiang carried out the attacks. Now, more than six months after the incident, residents in the city are still coping with the aftermath. VOA's Bill Ide has more from Kunming.
Video

Video Enviropreneur Seeks to Save the Environment, Empower the Community

Lorna Rutto, a former banker, is now an ‘enviropreneur’ - turning plastic waste into furniture and fences discusses the challenges she faces in Africa with raw materials and the environment.
Video

Video West Trades Accusations Over Ransoms

As world leaders try to forge a common response to the threat posed by Islamic State militants in Iraq and Syria, there is simmering tension over differing policies on paying ransoms. In the past month, the jihadist group has beheaded two Americans and one Briton. Both countries refuse to pay ransom money. As Henry Ridgwell reports for VOA from London, there is uncertainty in the approach of some other European nations.
Video

Video Scotland Independence Bid Stokes Global Interest

The people of Scotland are preparing to vote on whether to become independent and break away from the rest of Britain, in a referendum being watched carefully in many other countries. Some see it as a risky experiment; while others hope a successful vote for independence might energize their own separatist demands. Foreign immigrants to Scotland have a front row seat for the vote. VOA’s Henry Ridgwell spoke to some of them in Edinburgh.
Video

Video Washington DC Mural Artists Help Beautify City

Like many cities, Washington has a graffiti problem. Buildings and homes, especially in low-income neighborhoods, are often targets of illegal artwork. But as we hear from VOA’s Julie Taboh, officials in the nation's capital have come up with an innovative program that uses the talents of local artists to beautify the city.
Video

Video US Muslim Leaders Condemn Islamic State

Leaders of America's Muslim community are condemning the violent extremism of the Islamic State group in Iraq and Syria. The U.S. Muslim leaders say militants are exploiting their faith in a failed effort to justify violent extremism. VOA correspondent Meredith Buel reports.
Video

Video Bedouin Woman Runs Successful Business in Palestinian City

A Bedouin woman is breaking social taboos by running a successful vacation resort in the Palestinian town of Jericho. Bedouins are a sub-group of Arabs known for their semi-nomadic lifestyle. Zlatica Hoke says the resort in the West Bank's Jordan Valley is a model of success for women in the region.


Carnage and mayhem are part of daily life in northern Nigeria, the result of a terror campaign by the Islamist group Boko Haram. Fears are growing that Nigeria’s government may not know how to counter it, and may be making things worse. More

AppleAndroid

World Currencies

EUR
USD
0.7722
JPY
USD
107.08
GBP
USD
0.6171
CAD
USD
1.1041
INR
USD
61.075

Rates may not be current.