Milei fails to boost lending as banks load up on government debt
5 Articles
5 Articles
Milei Fails to Boost Lending as Banks Load Up on Government Debt
A push by President Javier Milei’s administration to get Argentine banks “banking again” is losing momentum, with lenders once again leaning on government bonds for profit as a slowing economy and high delinquency rates weigh on their traditional business.
The initiative of the government of President Javier Milei for Argentine banks to return to operating as banks is losing strength, with financial institutions resorting once again to government bonds for profit, while the slowdown of the economy and the high rates of default affect their traditional business. Revenues with government bonds in commercial banks accounted for about 56% of operating revenue in July, according to the latest data from…
Earnings with public bonds already account for more than half of the banks' operating revenue, while lending loses breath in the midst of economic slowdown
The President’s strict monetary policy and high interest rates are pushing banks back into public debt
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