The credit market in Argentina remains highly restricted, primarily constrained to personal loans. The funds that banks receive from their clients are predominantly funnelled into a financial instrument called Leliq, which offers a lucrative high-interest rate.
In 2023, the "Ahora" Payment Plans, introduced by the national government, will continue to serve as a valuable tool for individuals seeking to purchase locally manufactured products in interest-free instalments at the point of creation. Subsequently, these plans offer significantly lower interest rates than the prevailing inflation rates, enabling consumption in an inflationary environment.
In Argentina, the real estate market predominantly operates in dollars. Currently, an official exchange rate for the dollar exists, but high restrictions make it practically impossible to obtain.
In Argentina, the concept of paying in instalments has been prevalent for many years, largely driven by government plans that facilitate interest-free or very low-interest instalment options for the purchase of locally manufactured products. However, these plans are tailored to those possessing a credit card, limiting access to a significant portion of the population without this financial instrument.
As the current governing party acknowledges its likely defeat in the upcoming elections, with a change of power anticipated by December, the resolution of critical financial issues is not a priority. These issues include the substantial currency gap between the official and black-market dollar rates, as well as the situation involving Leliq, where banks find themselves as major creditors of the national government.
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Understand the latest market trends and future growth opportunities for the Consumer Lending industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Consumer Lending
Aggregate of Consumer Credit and Mortgages/Housing. Gross Lending: The total value of loans advanced by institutions in a given year; data refers to single year only. Outstanding Balance: The collective amount owed by borrowers at the end of a given year; data refers to the cumulative impact of debt.
See All of Our DefinitionsThis report originates from Passport, our Consumer Lending research and analysis database.
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