President Javier Milei said rising household debt delinquency, which has reached record levels since he came into power, should be resolved between banks and borrowers, arguing that the government should not intervene in private lending agreements.
“Did someone put a gun to their heads?” he said when asked during an interview on Sunday with LN+ news channel about the high number of borrowers who had fallen behind on loan repayments.
Household debt delinquency rose for the 19th consecutive month in May, reaching 12.8% of total household credit — the highest level in more than two decades. At non-bank lenders such as fintech companies and digital wallets, the delinquency rate exceeds 32%, also a record high.
The president ruled out measures to help indebted households, saying banks and borrowers should instead negotiate refinancing agreements.
He added that improving macroeconomic conditions would lower interest rates and make refinancing more accessible.
