At Rates of up to 1.400 per Cent, High Household Arrears and Their Impact on the Economy Are Expected to Continue
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A report by the Centro de Economía Política Argentina (CEPA), prepared with data from the Central Bank, shows that fintech and financial companies linked to commercial chains charge the highest total financial costs of the system, well above traditional banks. Even entities with lower rates triple annual inflation, in a scenario of stagnating wages and rising arrears.
Of the 15 financial institutions with the most loans in an irregular situation, Carrefour Banco, Mercado Libre and Megatone are the ones that charge the most total financial cost (CFT), but even those that receive the least triple the inflation. High financial cost and low wages condition the future of austere consumption. In one of the 15 financial institutions, between banks and fintech, which concentrate the largest amount of loans to familie…
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