The current interests established by the Ministry of Domestic Trade range from 3.20% effective annual rate for three-payment plans to 40.18% for 30-installment plans.
From the financial institutions they propose an increase in these percentages, in line with the recent adjustment of two percentage points in the reference rate ordered by the Central Bank.
Days ago, both the Argentine Chamber of Commerce and Services (CAC) and the Argentine Confederation of Medium-sized Enterprises (CAME) requested the extension of the program, in two notes sent to the Minister of Productive Development, Matías Kulfas.
Unlike the banks, the two entities requested that the extension of the plan not include an increase in interest rates.
In the CAC note, its president, Natalio Mario Grinmann, and his secretary, Rodrigo Perez Graziano, asked Kulfas to maintain “the current financing rates.”
Along the same lines, the head of CAME, Alfredo Gonzalez, the secretary general of the entity, Ricardo Diab, and the director of Commerce, Fabián Tarrío, demanded that the extension be carried out “under the same conditions, for the entire country.”
The importance of the different financing programs was highlighted by the head of Internal Trade of the CAC, Pablo Aliperti, who specified in statements to Télam that they represent “25% of the turnover of the businesses.”
“Without Now 12 there are businesses that are directly left without financing, I cannot imagine today a home appliance house without the program”, said Aliperti.
With different variants applied over time, the Now 12 program came into effect in September 2014 under the presidency of Cristina Fernández de Kirchner, during the administration of Axel Kicillof at the Ministry of Economy.
The program lost strength during the administration of Mauricio Macri and was reactivated with Alberto Fernández as head of state.
In August 2021, the Ministry of Internal Trade, at that time in charge of Paula Español, extended the validity of the program until January 31, 2022, through resolution 753.
The program consists of a financing plan for the acquisition of domestically produced goods in 3, 6, 12, 18, 24 and 30 credit card installments without any amount limit.
Source From: Ambito
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