How Families in Milei's Argentina Sank Deep Into Debt
13 Articles
13 Articles
How families in Milei’s Argentina sank deep into debt
According to the Central Bank of Argentina, some 5.8 million people in the country are more than 90 days behind on their debt payments. (EPA Images pic)BUENOS AIRES: Andrea feels deep shame when she thinks about the loan she took out a year ago in Buenos Aires that she is now unable to repay.She's not alone.Debt delinquency among Argentine families has tripled in a year, reaching its highest level in two decades under President Javier Milei, a r…
How families in Milei's Argentina sank deep into debt
She's not alone. Debt delinquency among Argentine families has tripled in a year, reaching its highest level in two decades under President Javier Milei, a radical free-market champion whose draconian austerity measures have curbed inflation but left many struggling to make ends meet. Some 5.8 million people are more than 90 days behind on their debt payments, according to the Central Bank of Argentina. Stagnant incomes, coupled with a cost of l…
The lateness in personal loans quadrupled since the end of 2023 and already affects more than 20 million people. The CGT will march this Thursday towards the Ministry of Economy to demand answers to what it described as a "pandemy" of over-indebtedness.
Sociologist Lucía Cavallero analyzed the phenomenon in Futurock, during Julia Mengolini's program, and warned that indebtedness is not an exclusive problem of the most vulnerable sectors.
Of the 20 million indebted, 5.8 million are in arrears for more than 90 days, most with bank cards, electronic purses and informal loans, in a social drama that emerges as the most visible face of the crisis “Did you put a gun in your head to get into debt?” said President Javier Milei before the question about the situation afflicting 20 million Argentines, almost half of the population. The most dramatic fact is that about 5.8 million people w…
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