Debt piles up for young Argentines, testing support for President Milei
Summary
Many young people in Argentina are struggling with rising debt, which is limiting their ability to study and find work. This growing debt problem challenges the support for President Javier Milei and has led opposition lawmakers to propose government actions to help people manage their debt.Key Facts
- Nearly half of Argentina’s 45 million people owe money, with over 5 million behind on payments.
- People under 25 have the highest rate of missed payments, at 37.6%.
- Martín Taborda, an 18-year-old law student, is unemployed and owes about $1,300, making it hard to afford transportation and study materials.
- The debt often grows larger because of interest on unpaid loans.
- Young voters who supported President Milei are facing financial difficulties, creating political pressure.
- Opposition lawmakers want Congress to limit interest rates and create ways to help people repay debts.
- President Milei opposes government relief, saying debt issues are private matters between lenders and borrowers.
- Economy Minister Luis Caputo says banks are easing repayment conditions but warns against making debt relief public policy.
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