2024 was a year hinge to the Argentine economy. After several years of uncertainty, private credit began to consolidate, energizing economic and social development. With a growth of more than 77% in loans in pesos to the private sector, the financial system began to give recovery signs, favored by the reduction of inflation and decrease in interest rates.
It was also a significant year for Alprestamo, since we celebrated our seventh anniversary and expand operations to Chile. With presence in seven markets, we continue to lead the digital transformation of access to credit in Latin America, connecting millions of users with personalized financial solutions.
This advance occurs in a complex context: in 2024, the internal gross product (GDP) fell 3.8%, with significant decreases in private consumption (-7.9%) and investment (-25.3%). However, the prospects for 2025 are positive. According to a BBVA Research report, a 5.5%GDP growth is projected, with a recovery of consumption (+1.8%) and a rebound in investment (+14%). This growth will depend on the capacity of private credit to continue expanding and sustain development.
The challenge of sustainability
Although credit growth in 2024 was remarkable, Argentina’s economic history demonstrates that it is not enough to expand financing lines. It is essential that this growth is sustainable and equitable. The real challenge lies in avoiding the errors of the past: credit must be accompanied by an improvement in macroeconomic stability and prudent fiscal policies that ensure a reliable financial ecosystem.
At the regional level, the decrease in inflation and the reduction of interest rates favored the recovery of internal credit. According to an ECLAC report, at the end of the third quarter of 2024, internal credit grew 3.1% in real terms, mainly driven by credit to the private sector, which maintained a growth higher than the public sector. The recovery was more noticeable in countries with inflation goals and, to a lesser extent, in those with a fixed exchange rate. The World Bank foresees that Latin America will grow 2.6% in 2025.
In Argentina, with projected inflation of 35% by 2025 (after an estimated 120% closure in 2024) and a monetary policy that provides rates close to 24%, the conditions seem conducive to a significant expansion of the credit as a percentage of the GDP.
Private credit plays a role that goes beyond financial: it is a catalyst capable of transforming the lives of people and companies. In a country where access to credit remains limited for many, the expansion of accessible and transparent lines can become a engine of social inclusion and economic development.
OPPORTUNITIES AND CHALLENGES FOR 2025
For the credit to continue to be a transformation tool, it will be key to focus on three axes:
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Technological innovation: The digitalization of the financial system has allowed many more people to access credit.
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Financial inclusion: Argentina has a unique opportunity to expand the scope of credit to traditionally unattended sectors, such as micro, small and medium enterprises, representing the country’s productive heart.
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Regulation and stability: The regulatory framework must accompany credit growth, ensuring transparency and protecting consumers without suffocating innovation.
2024 leaves a positive balance in terms of growth of private credit, but also remembers that the path to sustained development requires long -term balance, commitment and vision. In 2025, with a more favorable economic scenario, we have the opportunity to consolidate credit as a tool at the service of the country’s integral development.
Let’s take advantage of this transition towards stability to build a more inclusive, resilient and future -oriented financial system. Only then can we transform today’s challenges into sustainable opportunities for coming generations.
* CEO and Co-Founder of Alprestamo
By Julián sancludely
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