A balance of the current economic conditions
The president of Banco Macro, Jorge Brito, was interviewed by El Cronista newspaper and spoke at large on the current economic conditions in Argentina and abroad. He also commented on the financial system and the new line of mortgage loan facilities launched by Banco Macro in April.
“The first economic measures adopted by the current Administration seem, in general, to be on the right track, however, such path is long and very complex. We agree to the inflation targets, the bringing into line of the foreign exchange rate, the gradual elimination of subsidies, the gradual strategy and the solution adopted to regularize foreign external debt” were some of the remarks made by Jorge Brito.
As regards the banking sector he commented that “we welcome the lifting of unnecessary regulations, provided it is made prudently and never leaving customers unprotected”. As to the international context, he explained that the situation is not very favorable for Argentina. Therefore, he expects that “Argentina will develop countercyclical policies so as to accumulate surpluses in good times, and have reserves in bad times”.
As regards the domestic financial system he stated that “inclusion and financial education, apart from being a pillar of Banco Macro, is a process that leads to the commercial expansion of the banking system”. Less than a month ago, Banco Macro, launched a line of mortgage loan facilities of up to AR$1 million for home ownership and a line of up to AR$ 1.5 million for micro-entrepreneurs and Small and Medium enterprises.
Jorge Brito, president of Banco Macro, confirmed that the Bank will make investments of up to AR$2,000 million in 2016, in areas ranging from technology, the building of a new corporate tower, branch infrastructure and capitalization.
Full interview: http://www.jorgehoraciobrito.com/english/wp-content/uploads/2016/05/El-Cronista-Comercial-11.05.2016.jpg