Caputo Launched a $2 Billion Program for Mortgage Credits with Anses Funds
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Although from the banking sector they acknowledged that they are still analyzing the small print of the announcement, some financial institutions anticipated that the initiative of the economic team was well received.
The Minister of Economy, Luis Caputo, confirmed this Wednesday the launch of a $2 billion program with resources from the National Social Follow-up Administration's (ANSES) Sustainability Guarantee Fund (FGS) to boost mortgage loans, through a mechanism that will seek to solve one of the main problems currently encountered by banks to lend to 20 or 30 years: the lack of long-term financing. The initiative had been anticipated by FIRST EDITION on…
The Minister of Economy, Luis Caputo, together with the second vice president of the Central Bank of the Argentine Republic, Baltasar Romero Krause, and the general director of the Sustainability Guarantee Fund (FGS), Juan Cruz Micele, announced on Wednesday the Program of Tenders of Fixed Terms with Destination to Mortgage Credit, which includes a total amount of $2 billion to expand the financing destined for the acquisition, construction, ext…
Luis Caputo announced a new program to try to boost mortgage credit in Argentina from funds from the Sustainability Guarantee Fund (FGS). The initiative plans to tender fixed-term deposits between banks to generate long-term financing and expand the capacity of entities to provide loans for housing. The announcement was made on Wednesday at 10 p.m. at a press conference held on the fifth floor of the Hacienda Palace.
The minister explained that the measure aims to reactivate the economy. The amount of the program will be $2 billion and contemplates a rate of more than 7.5%. It will be n for first housing. It is estimated that the measure can provide housing solutions to 18,000 families.
The announcement was made during a press conference at the Palace of Finance, where Caputo was accompanied by authorities from the Central Bank (BCRA) and the Bank for Investment and Foreign Trade (BICE).The entry "Let's give a hand": The government announced mortgage loans with "minimum rate" was first published in #BorderJournalism.
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