On August 13, 2026, the Argentine government's official response office shared a video message from Economy Minister Luis Caputo outlining a significant change in dollar-denominated lending. Previously, banks could only lend dollars to companies that generated foreign currency or had guarantees from those that did. Now, under the new policy, all companies can access dollar loans, but with a strict limit: banks may lend only up to 15% of their dollar deposits.
What Exactly Changes?
In the video, Caputo explained: “As you know, we regularly meet with all industries, and they have been asking for more flexibility here. Why do I say more flexibility? Because for those who don't know, until now banks with their dollar deposits could only lend dollars to companies that generated dollars, or to companies that didn't generate dollars but had guarantees from companies that did. So today we are extending that possibility to all companies, but within a macroprudential framework that the Central Bank will now be issuing a statement about, which among other things includes that banks will only be able to lend up to fifteen percent of their dollar deposits.”
In practice, this means a local business that doesn't export or earn dollars can now obtain credit in foreign currency, as long as the bank stays within that 15% cap. The measure aims to give more financing tools to sectors that currently can't access dollars, but it also raises concerns among savers.
Reactions on Social Media
The announcement on X (formerly Twitter) quickly went viral, drawing thousands of views and hundreds of comments. Some users expressed distrust, like Devas, who wrote: “This is crazy, a measure for the 'De Mendicurren' types to do another 'paga Dios' and end up eating the savings of the usual fools who can't even get their USD out of the bank.” Another user, HenryCarruthers, posted: “Thief Caputo, liar, trash. Trial and punishment for this criminal traitor to the homeland #MileiDestroysArgentina.” Meanwhile, Elba Marino commented: “Sure, I'll leave my dollars in the bank so they can lend them to people who don't generate dollars... starting tomorrow, they'll be buried in my garden.”
These reactions reflect fears among some savers that their dollar deposits could be used for risky loans. However, the minister emphasized that the measure falls within a “macroprudential framework” that the Central Bank will detail in an official statement.
Economic Context
This decision comes amid a persistent dollar shortage in Argentina, with strict currency controls (known as the “cepo cambiario”) limiting access to foreign currency. The flexibility aims to encourage investment and productive credit, but it also raises questions about deposit safety. The Central Bank will need to specify requirements and guarantees to avoid negative impacts on the financial system.
As of now, no further details on terms, interest rates, or conditions for these new loans have been released. The BCRA's upcoming statement is expected to provide clarity in the coming hours.