ANNOUNCEMENT 01 Apr 2020

The government of Argentina launched a new economic relief program in response to the Coronavirus pandemic. One of the measures adopted includes the provision of interest-rate-free loans to entrepreneurs. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Argentina.gob.ar. Normativa. Decreto DNU 332/2020. PROGRAMA DE ASISTENCIA DE EMERGENCIA AL TRABAJO Y LA PRODUCCIÓN. Available at: https://www.argentina.gob.ar/normativa/nacional/decreto-332-2020-336003/actualizacion

Argentina.gob.ar. Programa de Asistencia de Emergencia al Trabajo y la Producción (ATP). En qué consiste el beneficio (retrieved on 03/07/2020). Available at: https://www.argentina.gob.ar/atp/monotributistas-y-aut%C3%B3nomos/en-que-consiste-el-beneficio

Ministry of Economy of Argentina. Ministerio de Economía. Notícias. "El Gobierno confirmó la tercera etapa del ATP y prorrogó hasta fines de julio los créditos a tasa cero" de 24/06/2020. Available at: https://www.argentina.gob.ar/noticias/el-gobierno-confirmo-la-tercera-etapa-del-atp-y-prorrogo-hasta-fines-de-julio-los-creditos

InfoLeg. Programa de Asistencia de Emergencia al Trabajo y la Producción. Decreto 376/2020. Avilable at: http://servicios.infoleg.gob.ar/infolegInternet/anexos/335000-339999/336470/norma.htm

Inception date: 01 Apr 2020 | Removal date: open ended

State loan

On 1 April 2020, the government of Argentina adopted Decree 332/2020 creating the Job and Production Emergy Assitance Programme (i.e. Programa de Asistencia de Emergencia al Trabajo y la Producción in Spanish). One of the measures introduced and relevant for the GTA database was the approval of interest-rate-free loans for entrepreneurs.

Under the new scheme, autonomous workers can receive loans of up to ARS 150,000 (USD 2,324) with a 0% interest rate and a maturity ranging between 12 and 18 months. 

The measure is open to all industries except health and security services, funerary services, broadcasting and media services, telecommunication services, food and hygiene industry, medical equipment and supplies, freight and transport services, laundry services, and basic maintenance services. 

This measure was adopted in response to the COVID-19 outbreak.

 
Update
On 20 April 2020, the Argentine government adopted Decree 376/2020 updating the conditions related to this program and approving ARS 37,000 million (USD 560.6 million) to support it.
 
As to 24 June 2020, the Ministry of Economy confirmed that more than 500,000 autonomous workers had already benefitted from the measure.
 

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