Visitors to this year’s Felaban conference in Buenos Aires might have been surprised by the overall upbeat tone. For, despite all the positivity surrounding the new, business-focused administration of president Mauricio Macri, Argentina’s banks still have to contend with a stringent and punitive regulatory environment.
Some of Cristina Kirchner’s basic rules have gone (interest rate caps and floors) but others, such as directed lending regulations to channel subsidised credits to SMEs, have been extended and increased.
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