Finance

Soaring Household Defaults Rock Argentina’s Banks and Fintechs

The Uala app on a smartphone in Buenos Aires. The Argentine fintech received a $197 million capital injection in March after delinquency reached nearly 40%.Photographer: Sarah Pabst/Bloomberg

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A sharp rise in household delinquencies is shaking Argentina’s banks and fintech firms, presenting another challenge to President Javier Milei’s ambitious economic overhaul.