Argentines plunge into debt for bills, cars and birthday parties - BA Times

[Silvia]

Argentines plunge into debt for bills, cars and birthday parties​

Argentines plunge into debt for bills, cars and birthday parties

Improved access to credit has been a notable shift, but a new problem has emerged: the growing number of borrowers struggling to repay debts.

www.batimes.com.ar

 

[Uncle Wong]

Feel bad for Argentines. My friends in BA are tapped out. Many are not making it to the end of the month and depend on credit cards and loans. The interest rates are sky high!

 

[Wally]

The amount of credit given in Argentina is still very low. That is a blessing and a curse in some ways. Credit can totally destroy a family when unemployment increases, many more places will close down, inflation is high. Recipe for disaster. It is crazy how there is so much credit and financing in the US but here it's almost nothing and personally I like it better. I bought my place in cash. Feels good not having any debt and owning everything outright.