2023-05-23 12:35:57
The Minister of Economy, Sergio Massa, announced new measures aimed at strengthening credit for the private sector and with the aim of sustaining consumption.
Based on the agreement reached with public and private banks of national capital, the amounts of purchases in installments with credit cards will be increased by 30% and 25% for payment operations in a single payment.
The current account advance margins for micro, small and medium-sized enterprises (MSMEs) will also increase by 25%. Meanwhile, those who pay by credit card will be able to finance their consumption with a higher limit.
“Improving the credit capacity of 39 million people who have a credit card, increasing their purchasing power by 30% and their credit profile is a very valuable contribution to the Argentine financial system,” said Minister Massa.
The agreement was reached with the Association of Argentine Banks (Adeba), which brings together national capital entities, and with Abappra, which brings together public and private banks.
Prior to the announcement, from the Palacio de Hacienda they explained the effect that the increase in the credit limit will have. “For every $10,000 pesos available in a payment, 3,000 more pesos are added; and if a family had 50,000 pesos of credit on their card, they will now have 65,000 pesos,” they highlighted.
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