The organization led by Miguel Pesce decided to limit access to the exchange market to those who request subsidized credits, until they cancel their debt. The objective is to avoid further pressure on reserves.
He central bank ordered this Thursday that those retired and pensioners beneficiaries of credits at subsidized rates recently announced by ANSES they will not be able to buy currency until they pay off their debts.
Tonight, the body led by Miguel Pesce issued the A7810 Communication which determines that “human persons who are beneficiaries of the “ANSES Credits” provided for in Resolution No. 144/2023″ will not be able to access “the exchange market to make purchases of foreign currency”.
The prohibition of purchase of foreign currency It will cover “the formation of foreign assets of residents, (the) remittance of family aid and for operations with derivatives, under the terms of point 3.8 of the regulations on “Foreign and foreign exchange””.
Although currently the number of people who can access the exchange market is small, the measure aims to prevent loans from ending up putting pressure on the depressed reserves of the BCRA, in addition to encouraging the beneficiaries to use the money for internal consumption.
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ANSES Press
ANSES credits for retirees
Last week, the Economy Minister, Sergio Massa, and the head of the National Social Security Administration (ANSES) they launched a new credit line for retirees and pensioners a subsidized interest rate, which will allow the return of loans in up to four years, in installments.
The measure covers retirees from the Argentine Integrated Pension System (SIPA) and holders of Non-Contributory Pensions (PNC).
As reported by Anses, retirees will have access to a loan of up to $400,000, and in the case of pensioners, they will have a cap of $150,000. In these lines, there will be Possibilities of repaying the money within a period of 24, 36 and 48 installments.
He cost of the loan will be 29% per year of the Nominal Annual Rate (TNA)Therefore, the interest in real terms would be higher since the rate to be considered is the CFT (Total Financial Cost).
Source: Ambito
