On the 40th anniversary of the return to democracy in 2023, he National Bank announced a line of credit with preferential rates of 40%, in the middle of a complex economic scenario and in front of a rising inflation. The measure, for $10,000 million, is intended for small and medium-sized companies, retirees and workers who collect their assets in the bank.
The 40% rate announcement is well below inflation. The Indec reported days ago that the price increase had an accumulated year-on-year rise of 102%. In this context, some specialists criticized the initiative.
Through a statement, Banco Nación reported that the line of credit is intended for investments in general and for recomposition of working capitalwith a combined nominal annual rate of 40%, for the first year, y then badlar plus seven annual percentage points for the rest of the period.
“The maximum amount to be lent will be up to $40,000,000 for investments and up to $10,000,000 for working capital. The term reaches up to 60 months for the first case and up to 18 months for the second,” the entity reported.
On the other hand, it is contemplated that the program will allow financing to human persons belonging to the micro segment. It is a loan with a single signature guarantee and destined for investment and working capital.
The owner of the entity, Silvina Batakismade the announcement during an act that he shared with the general manager, Maria Barrosand the head of the La Bancaria guild, Sergius Palace. There, Batakis highlighted the “commitment of the board of directors, the management and all the personnel for the accompaniment in the launch of the special line to commemorate the 40 years of democracy, with preferential conditions, at an interest rate of 40%”.
The president of Banco Nación also referred to the anniversary of the 1976 coup that is commemorated this Friday. She affirmed that the dictatorship “made a profound reform of the economic system” and specified that “it still has tentacles.” Thus, she said that “strengthening democracy and perfecting this system, which is the best to achieve the well-being of a country”
The Economist Eduardo Yeyati He was one of the first to observe the announcement of the bank. “The government lends at a loss, expiring in the next presidential term,” he said. And he added: “Continue spending on behalf of the next government, and the future of all Argentines. How expensive these 9 months are going to be for us”.
In this sense, he explained: “How much does it cost us? For every 100 pesos it lends, Banco Nación loses 65 pesos in a year (it pays 213 to the depositor, charges 148 to the debtor). If they lend $10 billion, they lose $650 billion. Every year. For four years. (40% is for the 40 of democracy? Seriously?).
For his part, the deputy and economist martin tetaz also reacted to the measure. “I can’t wait for them to celebrate the decade won,” she said on Twitter when sharing the news online.
With information from Telam
THE NATION