Nearly 4 in 10 young Argentine borrowers are behind on their debts as the generation that helped elect Milei struggles to get by

Nearly 40% of young Argentine borrowers are struggling with their debts, as the generation that backed President Javier Milei now grapples with financial difficulties, according to a nonprofit tracking debt using central bank data. Martín Taborda, an unemployed student at Argentina's prestigious University of Buenos Aires, owes $1,300 and is unable to afford his bus fare or textbooks.

He is among the 5 million Argentines who are behind on their payments, with those under 25 having the highest delinquency rate at 37.6%. Taborda's debt grew tenfold after accrued interest on missed payments, forcing him to borrow $100 through a mobile payment app for education expenses, which then ballooned. The economic challenges faced by young Argentines are testing Milei's support, with opposition lawmakers proposing a special session of Congress to address the issue through interest-rate caps and other measures.

Milei, however, dismisses the government's role in debt relief, arguing that unpaid debts are a private matter. The financial strain has led to protests from labor unions and debtors outside Congress, highlighting the growing concern among voters beyond Milei's success in controlling inflation.