translated from Spanish: Anses credits will not charge interest on suspended fees

The National Social Security Administration (Anses) sent a bill to Congress so that interest on the credits granted by the agency from January 1, 2020, is not capitalized. This would imply relief of about $47 billion in the accumulated payment for this concept for families who took out the loans.

Due to the extent of social isolation resulting from the pandemic, Anses had arranged for the suspension of the collection of fees for all lines granted by the agency until August 2020. In this way, the payment of the fees will be made according to the conditions originally agreed, drawing the situation back to December 2019.
“During the previous government, the Argenta Card was replaced with loans credited by bank transfer. This card was intended to safeguard the beneficiaries, avoiding excessive discounts; that is, Anses was not thought of only as a loan body,” the agency said in a statement.

In addition, he noted that the card “assumed the role of promoting responsible financial inclusion and contributing to the development of the domestic market”. However, since July 2017, Anses credits have been extended to Holders of Universal Child Assignment (AUH) and Family Allowances (SUAF), which led to 84.6% of AUH beneficiaries (1,867,832 people) being indebted to the agency. In return, only 31.6% of retirees and pensioners in the Argentine Integrated Planned System (SIPA) (1,820,375 people) have credits taken with Anses, “a proportion that has remained stable since 2012,” anses said.

So far, the total loans given to AUH holders is $30 billion; $126 billion for SIPA beneficiaries; $35 billion for Non-Contributory Pensions; $12 billion for the Single Family Appropriations System (SUAF).
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Original source in Spanish

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