The bill that seeks to grant them relief to debtors of UVA credits maintains a counterpoint between those highlight the possibility of helping families who were committed to the value of the quotas and those who maintain that the modification violates equity among those who accessed this mechanism.
The initiative was approved at midnight from Thursday with 134 votes in favor, 40 against and 18 abstentions, and passed to the Senate for final approval. The vote and the speeches in the venue revealed that the differences persist, which opens an uncertain scenario for the fate of the law.
The deputy and former Minister of Finance of Mendoza, Lysander Nierivoted in favor of the norm, but clarified that this discussion is taking place “due to a terrible economic situation that aggravates the purchasing power of salaries day by day.”
Along these lines, he maintained that “the Compensation Fund proposal it is a very small palliative. If wages continue to deteriorate, the debtor will not be able to appreciate the difference in the quota.
The future norm establishes that the fee to be paid cannot exceed 30% of recorded income of the borrower of the credit and that the difference will be in charge of a Compensation Fund that will be formed by the contribution of 0.0025% of the average of the daily balances of the deposits in pesos and in foreign currency in the banks.
According to data provided by the ruling party, at today’s values, each point of difference between the salary index and the cost of living it costs the financial system 111 million pesos.
It should be remembered that the law establishes that the capital and interest will be updated based on an indicator that follows the evolution of wages (RIPTE), but in the event that wages beat inflation, the update will become UVA.
UVA credits: the main counterpoints between the ruling party and the opposition
All this mechanism that generates doubts and confusion still to be discussed in the senate and then regulated, with which there is no certainty about when the application will begin. Hence, debtors must be clear that at least they can it will take several months for the relief to be felt in the pockets.
Another point that generated controversy was the position of the deputy Carlos Heller (Front of All) to force those who accept this new mechanism to renounce the option of filing lawsuits for the credits granted in UVA. The Mendoza deputy Julio Cobos He had requested that this possibility not be curtailed.
Although he voted in favor, Heller gave an example that questions the need for the reform, or at least with the parameters that were carried out: “From December 31 of last year until yesterday, the UVA grew by 48.7% , while the IAR index (which is the RIPTE) in the same period grew by 49.7%”
Therefore, he pointed out that “the adjustment index for registered workers’ wages measured by INDEC beat inflation, and therefore wages slightly beat price indices. In this case, there would not have to be any type of adjustment if people had their credit adjusted for wages”.
For the representative of United Republicans Ricardo Lopez Murphythe proposal subsidizes a middle-income sector of society.
López Murphy assured that the UVA credits “People who are in the upper deciles accessed. If we give subsidies to the upper deciles, we are humping the lower deciles, because they could not access these credits”.
Among the positive points, Nieri highlighted portability, through which the debtor will be able to move from one bank to another and obtain better conditions.
He also pointed to the possibility of selling a loan with the mortgage included, as well as updating the amount of interest that can be deducted from Income Tax, which will now be up to three minimum wages.
“But these three virtues are going to be nothing by the article that suspends judicial actions”, considered the Mendoza legislator.
For his part, the representative of Evolución Radical martin tetaz (author of his own proposal) pointed out that it would not be a good decision for a family to go from an update by UVA to one by RIPTE.
“I do not advise it, because the most probable thing in a perspective of 15, 20, 25 years, is that real wages on average beat inflation. But it is insurance and it is logical that some families opt for this path, ”he indicated.
Likewise, he ruled in favor of portability because “it will encourage competition between banks to capture a loan portfolio that has proven to be extremely resilient and of very good quality.”
Tetaz emphasized that “today it is impossible to find a credit portfolio in Argentina of the quality of UVA credits, because they have shown that despite the enormous Argentine crisis, 99% of those who have credit continue to pay it up to date”.
“Today the cheapest credit in the market costs three times what the UVA credit quota costs”, he remarked.
Buenos Aires Correspondent