Argentina’s zombie mortgage market is coming back to life

According to Heran Nessi

Buenos Aires (Reuters) – The Mortgage Market of Argentina has no almost existing for years due to triple digital inflation and high loan costs, signs of returning to Labanantian President Javier Miley reforms.

New monthly loans in Buenos Aires, from 40% to 40% of the country’s population, the highest level of local college data has been the highest level of local college. The numbers increased by about 500% during February.

In late 2023, the Economist Milli shocked the country with hard severity and expenses, which helped to derive the deep deficit of inflation between investors and banks.

“The necessary conditions have been created for the financial system to offer mortgage loans from state banks and then private banks, said Gilmo Lonkhi, President of the Buenos Aires province.

The total mortgage market, while the country’s inflation and foreign currency intervention has been ministered to $ 2.3 billion, and $ 8.3 billion.

Leonghi said that the government should provide financial stability, continue to inspire inflation and strengthen the exchange rate policy, currently controlled.

“The future of mortgage lending will be mainly due to the evolution of basic macroeconomic variables, such as inflation, exchange rate and general economic stability,” Lonchi added.

(Gives Hernas by Nessi; Adam Jourdan and Alison Williams Editing)