The president of the Central Bank, Santiago Bausili, noted that credit demand is expected to triple in the coming months due to monetary stability. Bausili highlighted that Argentina has a high level of financial education compared to other countries in the region, but emphasized the importance of achieving 'financial well-being' so that a larger number of people can access the financial system through technological advancements.
During the Argentina Fintech Forum, Bausili explained that the growth of private credit is one of the main focuses that the Central Bank is working on. Currently, the level of loans to the private sector in Argentina remains low. The goal is to promote the 'financial freedom' of the population, which will be achieved through the deregulation of the system and creating equitable conditions that allow smoother access for a larger portion of the population.
Bausili underscored the importance of establishing a transparent and predictable regulatory framework to ensure a solid and reliable financial system. The initial challenge was to address the monetary imbalance, also benefiting exchange rate stability. During the first four months, there was intense work to balance the amount of pesos in circulation, maintaining negative real interest rates.
Currently, with lower inflation and lower interest rates, these indicators are expected to remain stable, avoiding the need for new regulations in the short term. Bausili highlighted that transparency and predictability in the regulatory framework are crucial for the healthy development of the financial system, thus promoting access to credit and greater financial inclusion in society.
