To boost consumption will boost loans granted by ANSeS – 07/14/2018

Reanimate consumption in sectors with the lowest incomes and, step by step, begin to consolidate the road with views of the 2019 elections. Under these two premises, at the highest levels of the national government they made the decision last week to revive the loans for retirees and beneficiaries of social schemes and family allowances funded by the ANSeS with money administered by the Sustainability Guarantee Fund (FGS)

Up to today, this line of personal loans is known as Argenta Loans. The original design has the Kirchnerist DNA, and the Mauricio Macri government has stepped up its use last year.

"For the 2018 version, the Argentineans will change their name.They will be called directly " ANSeS Loans " tells Clarín the Head of ANSeS, Emilio Basavilbaso.The Argenta brand is closely related to the previous government, as is clear from opinion polls, say to Casa Rosada.

the maximum amounts of these credits are from 60 000 dollars pesos for pensioners and pensioners, 30 000 dollars for non-contributory old-age and universal old-age pensioners: mothers who receive the universal allowance per child can claim up to $ 5,000 per child. Employees who receive allocations Up to 5,000 pesos (see infographic on page 9)

interest rates range from 29% to 36% per annum (financial cost up to 40% per annum) and the terms are stretched from 24 to 60.

These days the ANSeS must define the new parameters – rates, terms, maximum amounts – which must necessarily be modified, especially taking into account inflation and reference interest rates. The head of the organization, Emilio Basavilbaso focuses on the end points

The executive branch has the problem at the top of the list of actions that it has in the file to overturn the image of suffering the government since the beginning of 2018, and that has been accelerated by the devaluation and the obvious cooling of economic activity.

These credits had a decisive impact in the 2017 elections, which allowed the government to impose itself clearly in the main neighborhoods and, with a lower margin, in the suburban parties in which Citizenship showed a larger stream of voices, the party of the former president Cristina Fernández de Kirchner. To date, ANSES has granted 5.2 million credits and a total disbursement of 100 billion pesos

For a demographic question, 40% of the ANSeS, in all its variants, fall on the citizens who have their home in Greater Buenos Aires. It is easy to understand the economic and electoral impact that must throw funds on the three rings that surround the city of Buenos Aires

As we have said, the Argentineans "flew" in the weeks preceding open, simultaneous and compulsory primaries. (STEP) last year, when the government was not sure it would have the flow of votes to beat the former president.

The numbers speak for themselves: Until June of last year, were granted, on average, less than 150,000 credits per month. In August (the month of the PASO) they jumped to almost 900 000 credits

The loan portfolio of Argenta occupied 6.2% of the total portfolio of the FGS in March of this year, which exceeded then 1.2 trillion pesos

The disbursement rate has decreased significantly since the peak of August 2017. "It is that many beneficiaries have to finish paying the credit that they have already taken. "

In fact, they took this loan 70% of AUH beneficiaries, 60% of those who receive non-contributory pensions and 25% of retirees and retirees. At lower or lower rates, demand has stolen.

According to information processed by ANSeS, "60% of the loans have been used to improve housing," says Basavilbaso.

The grievor points out that Retirement, pension and social benefits recipients have been able to access a niche market that is much cheaper than the financial services that abound in lower-income sectors, to which they are 100% per year.w