People shop at a supermarket in Buenos Aires in January. Household debt is surging and millions of borrowers are falling behind on payments amid declining purchasing power and a rising cost of living. File Photo by Juan Ignacio Roncoroni/EPA
BUENOS AIRES, Aug. 28 (UPI) -- Argentine household debt is at one of its worst levels in decades.
The country has the highest bank loan delinquency rate in Latin America, as household debt surges and millions of borrowers fall behind on payments amid declining purchasing power and a rising cost of living.
A report by the Argentine Center for Political Economy, or CEPA, based on data from the Central Bank and its Central Debtors Registry, shows a sharp deterioration in households' ability to repay debt.
According to the study, delinquency rates have reached levels not seen since Argentina's 2001 economic crisis.
