South America

Argentina Creates 2 Trillion-Peso Mortgage Program With Pension-Fund Deposits

Read this story on The State of Israel

Published

Courtroom-sketch editorial illustration of three Argentine economic officials seated behind a press-conference desk with microphones, water glasses, the national flag, and a blue backdrop, rendered in warm ochre and slate-blue pastel strokes.

Economy Minister Luis Caputo announced a 2 trillion-peso program that will place Sustainability Guarantee Fund assets in bank fixed-term deposits to finance mortgages. Auctions will offer up to 200 billion pesos each, with banks required to direct awarded funds within 90 days to loans for buying, building, enlarging or renovating a first home. Mortgages will carry a maximum rate of UVA plus 7.5%, a minimum 15-year term and a 150,000-UVA principal cap. The program includes one-year and five-year funding tranches, with each bank limited to 20% of an auction.

Sources

Primary sources:1

Related stories

  1. Colombia Freezes Regular Gasoline and Diesel Prices for September
  2. Bolivia Diesel Protest Strands 200 Vehicles on Beni–Santa Cruz Route
  3. Bolivia Plans IMF Deal Bill Within Days, Targets September Disbursement
  4. Brazil’s Mid-Month Consumer Prices Fall 0.40% in August
  5. U.S. PCE Inflation Holds at 3.7% in July as Core Rate Stays at 3.3%

Something went wrong

We couldn't complete that action. Check your connection and try again.