Credit to metallurgical SMEs exceeded that of 2019 – Télam

In November, the new scheme of financing lines for MSMEs came into effect.

Credit to small and medium-sized companies in the metallurgical sector reached the levels of November 2018 last October, and the average stock, in real terms, was 18% higher than the 2019 average.

This was indicated by a survey carried out by the Association of Metallurgical Industries of the Argentine Republic (Adimra).

The report pointed out that the stock of credit in pesos to the non-financial private sector, in real terms, grew 7.4% in October year-on-year.

In October, there was an increase of 65.5% year-on-year in real terms.

In November, the new scheme of financing lines for MSMEs came into effect.

At the end of that month, $ 88,315 million had been granted, and the number of companies that accessed these lines amounted to 26,100.

Likewise, last month, 72% of the amounts financed to metallurgical SMEs were explained from three instruments: the discount of checks (34%), with $ 31,106 million; single signature loans (17%), with $ 15,579 million; and the advance in current account (21%), with $ 18,816 million, always according to the Adimra report.

The amounts traded fell in the three instruments, while there was an increase in interest rates compared to October, of the order of 4 and 5 percentage points, depending on the instrument.

For their part, check discount rates experienced a downward trend in the first two weeks of December.

Guaranteed checks, weighted by maturity, showed a similar evolution in all segments.

While the value chain checks evolved unevenly, depending on their expiration date.

The electronic credit invoice discount regime (FCE) in the last four weeks, showed a relative stability with respect to the transfer rates.

Interest was at a 37.5% nominal annual rate, weighted by maturity, resulting in a few weeks lower than the discount rate for deferred payment checks.


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.