{
  "id": 5766637,
  "title": "More Argentines turn to apps for loans as debt stress hits record",
  "url": "https://urgent.news/2026/09/04/more-argentines-turn-to-apps-for-loans-as-debt-stress-hits-record-5766637",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-04T10:23:22.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/news/more-argentines-turn-apps-loans-102322735.html"
  },
  "original_language": "en",
  "account": "In Buenos Aires, September 4, 2023, as traffic authorities seized a courier's motorcycle, Albert Quintero contemplated turning to costly digital loans to recover his income. After taking on average 70,000 pesos ($46) per day delivering meals, Quintero faced fines and fees totaling around 140,000 pesos ($90) to reclaim his motorcycle. Despite the high costs, more app workers are increasingly relying on fintech loans, including those offered by their own delivery platforms, to cope with debt stress. These loans, such as those from PedidosYa and Personal Pay, carry interest rates of up to 131% and 170% annually, respectively. As Argentina grapples with rising living costs and job insecurity under President Javier Milei's economic reforms, fintech apps have become a vital source of credit for many workers. The country's fintech lending sector has expanded 20-fold, with 10 million individual loans compared to 500,000 loans six to seven years ago. However, the surge in lending has coincided with a rise in bad loans, with nearly 6 million people more than 90 days behind on repayments, representing almost a third of all borrowers. Analysts warn that this growing indebtedness extends beyond the economy, affecting young people who are drawn to easy money from digital wallets without fully understanding the high interest rates they pay. Milei's government has largely dismissed calls for state-backed debt relief, instead viewing unpaid loans as a temporary consequence of expanding the private credit market. The situation may prove politically challenging for Milei ahead of the 2027 election, as concerns over household debt and precarious employment increasingly dominate public discourse.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "More Argentines turn to apps for loans as debt stress hits record",
        "url": "https://urgent.news/2026/09/04/more-argentines-turn-to-apps-for-loans-as-debt-stress-hits-record",
        "published": "2026-09-04T10:38:17.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}