The president of the Asociación de Bancos Argentinos (ADEBA), Javier Bolzico, reviewed the main achievements of the Argentine financial system and highlighted the challenges that still remain to expand access to credit in the country.
Before an audience composed of bankers and journalists, Bolzico emphasized that loans to the private sector doubled in the last year, rising from 40 to 90 trillion pesos in constant values, which represents approximately 7% of GDP.
“Last year we said that the financial system was in a position to finance the economic recovery, and so it was”, he stated. He attributed this expansion to measures taken by the Government of Javier Milei, such as the elimination of the fiscal deficit, the end of uncontrolled monetary issuance, and the liberalization of interest rates by the Central Bank.
"The next goal is to bring banking penetration to 25% of GDP in the coming years and from there move toward the levels of the region, around 50%", he assured. Later, in a conversation with journalists, he specified that this first objective could be achieved by the end of 2026.
