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 Mortgages in Argentina
Topic Originator: ipswichpar  
Date:   Thu 30 Aug 20:36

The Argentines have raised their interest rate to 60%.

I dread to think the pain that's causing the poor souls there.

I'm not even sure how that wouldn't result in everything collapsing immediately?!? Even with inflation at 25%.
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 Re: Mortgages in Argentina
Topic Originator: PARrot  
Date:   Thu 30 Aug 21:13

I cant get my head round that. When we were on 15% I was working 3 jobs and the wife was doing 2 jobs just to stay afloat. How can the average family pay 60%?

Seriously, I would expect a no confidence vote in the government.

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 Re: Mortgages in Argentina
Topic Originator: red-star-par  
Date:   Thu 30 Aug 21:59

Give it a couple of years it'll be the same here
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 Re: Mortgages in Argentina
Topic Originator: dover par  
Date:   Fri 31 Aug 16:41

Quote:

red-star-par, Thu 30 Aug 21:59

Give it a couple of years it'll be the same here


Don’t be stupid

"Pressure is something you feel when you don't know what the hell you're doing."
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 Re: Mortgages in Argentina
Topic Originator: veteraneastender  
Date:   Fri 31 Aug 16:48

Can foreigners open a savings acount over there ?

When does the nearest bank branch open ?



Post Edited (Fri 31 Aug 16:49)
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 Re: Mortgages in Argentina
Topic Originator: PeachtreePar  
Date:   Sat 1 Sep 11:09

You have to be a resident to open a bank account in many of the countries in South America. i’ve worked with banks in a number of South American countries but Argentine banks got a reputation of being bad at paying bills. Many of them went technically bankruptt in the early 2000s and majority of the international banks left the market selling their assets for pennies. Met a number of former Argentine bankers working in Canada.

They seem to operate accounts in US dollars and Pesos but they don’t co-mingle the currencies. I think that is where they got burned width the inflation before and why they keep them separate now .
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