Article by Basilia Orozco, Diario El Analista, Argentina
At the XV National Congress of Regional Economic Analysts held on October 28, 2022 at the University of Buenos Aires, Argentina, Adelton Mendonza, Secretary of Solidarity Economy of Maricá, presented the experience of the Mumbuca Community Currency. The event on Regional Economy was organized by the Faculty of Agriculture and was attended by professors, researchers and representatives of Argentine municipalities such as Rosario. Maricá was the only Brazilian municipality that participated in the meeting.
Secretary Adelton Mendonza discussed global and regional economies around thematic axes as the global currency circulation, changes and territories, and also gave a lecture on “Local Currency and National Development” showing how the Citizen Basic Income Program and the Mumbuca Community Currency work. Other cities in the Rio de Janeiro metropolitan area include Cabo Frio, Nitroi, Itaborai and Areal do Cabo.
“We show the experience of Maricá and other cities, all of which sought as an example the Mumbuca Social Currency, among other plans to expand this public policy to other municipalities, states and become a model for the country under Lula’s government. The reception was very good and the presentation was very well received by the teachers present in the audience who appreciated what we showed. It has been accepted. This is an important recognition we have received outside the country,” said the Secretary.
Mumbuca Community Currency
The Basic Income for the citizens of Maricá was created based on Law No. 10,835/04, drafted by Senator Eduardo Sublici, approved in 2004, and uses the local community currency, the mumbuca, which promotes the commercial development of the city, and municipal services. Currently, the program pays 200 mumbukas (R$ 200) per month to 42 thousand people, contributing R$ 8.4 million to the local economy. In total, ten thousand companies in the city accept the social currency as a form of payment.
From the article Mumbuca, o dinheiro maricaense (August 2020, in Portuguese):
The mumbuca is a type of local currency that has been developed in the city of Maricá, Rio de Janeiro, as part of the Basic Income of Citizenship (RBC) program and which aims to finance a monthly income and other benefits for the inhabitants. The program, which has been implemented since 2013, currently involves more than a quarter of the city’s population and represents one of the largest basic income experiments in the world. It is a digital currency that only works within the payment system of the digital platform and is valid only in Maricá. It encourages the local market. It was used preventively trhough a subsidy to micro businesses in times of pandemic. It provides benefits for young people, especially students, as well as in terms of health care.