The National Government has put an end to financial credits granted by the National Social Security Administration (ANSES) to pensioners and workers.
The administration of Javier Milei, with decree 1039/2024 published in the Official Journal, which has not yet entered into force, because it must be examined by the Permanent Bicameral Commission of Congress in accordance with the provisions of Law No. 26,122reported that ANSES will stop granting credits, in order to preserve the profitability and sustainability of the Sustainability Guarantee Fund (FGS) of the Argentine Integrated Pension System (SIPA).
The President explained that financial procedures should be promoted through the private sector, as it has the capacity to offer credit competitively. On the other hand, from the Executive, they underlined that this restructuring will be fundamental to optimize public resources in a context of economic emergency.
What will happen to people who have outstanding loans?
Those who requested loans during the Alberto Fernández government will continue to pay the installments as happened until the established deadlines expire.
Social security institution sources also explained that those who obtained the loan at the end of the previous administration will still have two or three years to repay the money.
How to check the status of ANSES credit installments?
– Log in with CUIL and social security code, on anses.gob.ar or via the mi ANSES app.
– Access the “ANSES Credits” tab and look for the “check amount” option. In this section you can consult the current credits, change the CBU for charging the installments or download the contract to find out the number of installments and the amount corresponding to each of them.
Source: ANSES press area
How might the Argentine government balance fiscal responsibility with the immediate needs of vulnerable populations following the credit cessation?
Time.news Interview: The Implications of ANSES’ Financial Credit Halt
Editor (E): Welcome to our readers. Today, we have the privilege of speaking with Dr. Mariana Torres, an expert in social security and economic policy. Recently, the Argentine government announced a significant policy change regarding financial credits granted by the National Social Security Administration (ANSES). Dr. Torres, thank you for joining us.
Dr. Mariana Torres (M): Thank you for having me. I’m glad to discuss such a vital topic.
E: Let’s start with the basics. Can you explain why the government has decided to halt these financial credits, especially under the administration of Javier Milei?
M: Certainly. The decree, specifically 1039/2024, is part of a broader strategy to ensure the profitability and sustainability of the Sustainability Guarantee Fund (FGS). The government’s rationale is that these credits posed a risk to the fund’s health, which is pivotal for the long-term support of pensioners and workers in Argentina.
E: That sounds crucial, especially given the economic challenges many are facing. How do you think this decision will impact the elderly and workers who have come to rely on these financial supports?
M: The impact could be significant. Many pensioners and workers depend on these credits to manage their day-to-day expenses. Without them, we may see an increase in financial strain among the most vulnerable populations. It’s essential to consider that such policies, while aimed at preserving funds, could create immediate hardships for those who have limited financial resources.
E: You mentioned the need for sustainability. How does halting these credits contribute to the overall health of the Argentine economy?
M: The reduction of liabilities through the cessation of credit distribution can stabilize the FGS. By ensuring that the fund remains solvent, the government is essentially posing a long-term strategy to safeguard social welfare programs. However, there’s a delicate balance—if the immediate needs of citizens aren’t met, we could face social unrest or increased poverty levels, counteracting the benefits of the policy.
E: It’s evident that this decision has implications that extend beyond just financial numbers. The decree has not yet entered into force as it awaits examination by the Permanent Bicameral Commission of Congress. What are the chances of this policy facing pushback, in your opinion?
M: Given the sensitivity of this issue, I anticipate a considerable debate within Congress. Various stakeholders, including political opposition and advocacy groups for the elderly and workers, are likely to voice their concerns. If significant pushback emerges, it may lead to revisions or delays in implementing this decree.
E: Looking ahead, what alternative solutions might the government consider to protect both the fund’s sustainability and the wellbeing of its citizens?
M: One potential solution could involve recalibrating the credit terms to make them more sustainable rather than outright halting them. Introducing income-based assessments for credit eligibility or offering financial literacy programs could better equip pensioners and workers to manage their finances. Additionally, exploring other funding sources for social security support could alleviate the pressure on the FGS.
E: That’s a thoughtful approach. Before we conclude, is there any final takeaway you’d like to offer our readers regarding this policy shift and its broader implications?
M: Absolutely. It’s critical for citizens to remain engaged with these policy changes as they can deeply influence daily life. Staying informed and advocating for balanced measures that protect both the fund’s integrity and the needs of the populace is essential. Economic policies must prioritize long-term sustainability while ensuring that they do not overlook the immediate needs of the most vulnerable.
E: Thank you, Dr. Torres. Your insights have shed light on a complex and pressing issue. We appreciate your time and expertise today.
M: Thank you for having me. It’s been a pleasure discussing this important topic.