15/07/2026 10:09 - Economia
The credit situation in Argentina in 2026 presents a significant challenge: seven million people have payment delays exceeding 60 days on their loans. However, both the private sector and the State are implementing rescue and refinancing programs to ease the family burden and reactivate the economy.
According to a report by Letra P published on July 14, 2026, debtors range from young people in informal jobs who borrowed through delivery apps to state workers. The main creditors are large commercial banks and fintechs, which are adapting their strategies to avoid total losses and help clients regularize their situations.
As of April 2026, the irregularity of bank loans to individuals averaged 12.1%, a jump from 3.7% the previous year. Banks are calling their clients one by one to offer tailored refinancing at rates around 25%, successfully reprogramming about 300,000 loans.
| Bank | Current Default Rate | Previous Year Default Rate |
|---|---|---|
| Galicia | 7.7% | 2.7% |
| Santander | 10.6% | 2.6% |
| BBVA | 9.75% | 2.43% |
| Macro | 6.92% | 1.81% |
In May 2026, the default rate at non-bank entities reached 28.7%. Naranja X leads with 36.6% of the non-bank loan market and a 25.1% default rate, while Mercado Pago holds 15.9% of the market and managed to reduce its irregularity to 17.3% thanks to proactive refinancing efforts.
Meanwhile, traditional appliance stores like Frávega (57%), Megatone (55.4%), and Cetrogar (54.3%) show the highest non-payment levels, though they move smaller amounts of money in systemic terms compared to banks.
Faced with this scenario, national and local governments accelerated relief plans. On Monday, July 14, 2026, the Head of the Buenos Aires City Government, Jorge Macri, announced a refinancing program at Banco Ciudad (the city's public bank) with tax benefits and rates not exceeding 35% annually. Banco Provincia (the Buenos Aires province bank) offers rates between 30% and 50%, and Banco Nación (the national public bank) launched lines at a UVA rate plus 12%. The UVA (Unidad de Valor Adquisitivo) is a local inflation-adjusted unit. Refinancings grew almost 150% between October and May, showing that the system is actively working to protect Argentine families.
Alfredo S. Quiroga
