“It’s very hard for banks because there are few alternatives.”
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Diego Chameides, chief economist at Argentina’s Banco Galicia is talking to Euromoney about the limited options that firms in this country now face.
“Credit demand is very low,” he says. “So [bank] liquidity is basically invested in short-term Leliqs [securities issued by the central bank] or banks can also buy treasury papers that are linked to inflation – and there are obvious reasons to buy those as we need to find a hedge against inflation.
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