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Argentina’s Fernandez Urges Banks to Boost Loans for Production

Argentina’s President Cristina Fernandez de Kirchner said the government will ask banks to boost lending to finance productive projects to at least 17 billion pesos ($3.5 billion), according to a statement posted on the presidential website

The government had earlier required banks to lend at least 5 percent of deposits this year for such projects. As of Dec. 17, banks had lent the equivalent of 91 percent of the amount requested by the government and were likely to surpass the requirement by the end of the year, Fernandez said.

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