The Government of Javier Milei announced a flexibilization of the conditions for the granting of dollar loans to companies and confirmed that banks will be able to expand the universe of companies eligible for this type of financing.
The modification will allow financial entities to grant dollar loans to all companies, including those that do not generate income in that currency. The measure will be accompanied by a prudential regulation scheme that will establish limits for banks' exposure.
“Until now, banks with their dollar deposits could only lend dollars to companies that generated dollars or those that had guarantees from companies that generated dollars. Today we are extending that possibility to all companies, but within a macroprudential framework,” explained the Minister of Economy, Luis "Toto" Caputo, during the presentation.
The minister specified that financial entities will be able to allocate up to 15% of their dollar deposits to this type of loans. In addition, he announced changes in the minimum capital requirements and in the credit exposure limits of banks.
The Government seeks to boost credit for companies
According to the head of the Treasury, the objective of the measure is to increase the level of credit available to companies and to facilitate financing for productive sectors.
Among the activities mentioned by Caputo are construction and the automotive industry. In particular, he highlighted the impact that access to financing can have on the construction sector. “The construction industry is an industry that sells in dollars and generates a lot of employment,” he stated.
The minister also related the decision to the current scenario of interest rates in pesos. In this context, he suggested that a greater availability of dollar loans could create new financing alternatives for companies.
