Economy Minister Sergio Massa Announces Line of Credit for Workers with Up to 48 Months Term

Economy Minister Sergio Massa announced today a line of credit for workers with a term of up to 48 monthswith a three-month grace period and an interest rate half that charged in the financial market.

The new measure that Massa announced during the afternoon of this Sunday is part of the Program for Strengthening Economic Activity and Salary and adds to those already confirmed during the day this Sunday, aimed at retirees, beneficiaries of ANSES, Card Feed and monotributistas.

Through social networks, the head of the Palacio de Hacienda explained that it will be possible to access lines of credit of up to $400,000 in 24, 36 or 48 installments and the funds will be deposited into the bank credit card within 5 business days.”

The minister explained that “the program has funds available for 400,000 million pesos and the interest rate is half of what is currently paid on the balance of credit cards.” Massa indicated that the loan “will be able to be done with a simple electronic procedure and with the possibility of being debited from the salary.”

Finally, the minister said that “in the next few hours, the executive director of the National Social Security Administration (Anses), Fernanda Raverta, will give more details about the system.”