More Argentines turn to apps for loans as debt stress hits record
Fintech lenders have expanded 20-fold as nearly 6 million borrowers fall more than 90 days behind on repayments, industry data show.
5 Articles
5 Articles
More Argentines turn to apps for loans as debt stress hits record
By Hernan Nessi BUENOS AIRES, Sept 4 (Reuters) - When traffic authorities confiscate a delivery rider's motorcycle in Buenos Aires, getting back to work can depend on taking out costly digital loans, feeding a debt cycle that is increasingly binding Ar...
Millions of Argentines face debt trap amid deregulation, rising costs
BUENOS AIRES (CN) — It all started with a credit card bill. Andrea, 60, had just lost a close relative and was facing unexpected expenses. She pushed the bill payment forward, covering only the minimum required by her bank. At the time, she owed roughly $130. But interest accumulated month after month, as did other living costs like rent and utilities. In an act of desperation, she took out a loan with Mercado Pago, one of Latin America’s top o…
Digital credit became a lifeline for thousands of Argentines, but three-digit rates and record late payments threaten to trap households in an increasingly difficult-to-break debt cycle.
A report by the consultant Analytica revealed that young people are the most affected by the lateness of the Argentine region
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