Politics Economy Local 2026-04-04T20:08:00+00:00

The Circular 830 Scandal in Argentina

An article about the scandalous Circular 830 of Argentina's National Mortgage Bank in the 1980s, which became a tool for political patronage and led to the bank's privatization.


The Circular 830 Scandal in Argentina

With its ups and downs, the government of Raúl Alfonsín is remembered as one of the least corrupt since the return to democracy, although one of the biggest scandals of those years was Circular 830 of the National Mortgage Bank (BHN), which ended up benefiting ruling party leaders with the granting of soft loans. This case returned to the memory of many Argentines when it was learned days ago that libertarian officials and lawmakers had managed to access multi-million dollar loans from the National Bank. Circular 830, which was in effect between 1983 and 1987, was theoretically intended to facilitate access to mortgage loans, but in practice it ended up being used to grant loans to people who did not need social housing, and the funds went to those with political connections to the radicalism. It was also denounced at the time that loans were also granted to leaders of other parties, in the framework of 'vote buying'. In the end, in 1997, the entity was privatized, during the Carlos Menem administration.

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