The initial impact of the massive fiscal adjustment undertaken by the Milei administration has been to push Argentina’s economy deeper into recession and greatly exacerbate the level of financial hardship many households were already suffering. However, it has also caused inflation to fall substantially since the second quarter of 2024, which has in turn prompted the Central Bank to lower benchmark interest rates.
Car sales in Argentina plummeted over the first half of 2024 due to the heavy economic toll taken by the abrupt devaluation of the peso and deep cuts to public spending. However, falling inflation and interest rate cuts have seen demand pick up towards the end of the year, and the rebound is expected to gain momentum in 2025 as the country emerges from recession.
Mortgages has been a moribund category in Argentina for many years, as high inflation, extreme currency volatility and frequent changes in monetary policy have historically made it very difficult to establish interest rates and terms that are profitable for lenders and manageable for borrowers. However, several banks have recently started to expand their mortgage portfolios as reforms adopted under the Milei government have brought lower inflation, interest rate cuts and diminishing returns from short-term debt securities issued by the Central Bank and the Treasury.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in Argentina, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See all of our definitionsThis report originates from Passport, our Consumer Credit research and analysis database.
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