Argentina evaluates new credit schemes using ANSES funds

Argentina's Economy Minister, Luis Caputo, is evaluating new credit schemes to address financial delinquency and stimulate economic activity. One proposed measure involves the potential use of the ANSES Sustainability and Guarantee Fund (FGS) to facilitate long-term financing.

While the FGS cannot be used to purchase individual mortgages due to its mandate to protect retirees, the government is considering a mechanism involving the auction of long-term fixed-term deposits. This approach aims to bridge the gap between bank lending terms and funding terms, which currently hinders the expansion of mortgage credit. The proposed auction process would include a maximum rate to prevent speculation.

Additionally, the administration is looking to flexibilize dollar-denominated credit, specifically targeting the construction and development sectors. These discussions come amid concerns regarding rising delinquency rates, though unofficial data suggests a slowdown in this trend as of July.