July 24, 2014
Government pledges to closely monitor abusive interest rates
Asked about excessive interest rates in personal credit lines in the financial market, Cabinet Chief Jorge Capitanich pointed out –like he had done last week- that the government is analyzing policies to regulate the sector.
In his daily briefing, Capitanich confirmed that the government is closely monitoring the situation.
There are “high, even abusive interest rates,” he said and highlighted that the administration is currently analyzing the possibility to extend government regulation to face the lack of self regulation in the sector.
Cabinet Chief also made a quick review on the different policies implemented by the Kirchnerite administration. “Including all the diferent programs, government credit policy amounts to about 200 billion pesos,” Capitanich said. “Credit has doubled its contribution to the GDP between 2003 and 2013,” he added.