Argentina Household Loan Delinquency Hits 12.9%, Highest Since 2004
Key Facts
Delinquency on bank loans to Argentine families reached 12.9% in July 2026, the highest level since 2004, according to the central bank. A year earlier the same measure stood at 5.6%, so the share of borrowers behind on payments has more than doubled in twelve months.
The figure lands days before an International Monetary Fund mission arrives in Buenos Aires on Monday 21 September. That team will run the third review of Argentina’s US$20 billion loan programme, agreed in April 2025, examining reserves and the government’s fiscal accounts.
A Record for Household Borrowing
The Banco Central de la República Argentina, the country’s central bank, publishes delinquency data each month. Its July figures, reported by Infobae and MDZ on 18 September, show 12.9% of family credit in irregular payment status.
That is up from 5.6% in July 2025, an increase of 7.3 percentage points in a single year. The last time the rate was this high was 2004, more than two decades ago.
The same reports put company delinquency at 3.6% in July. Households are therefore falling behind roughly three and a half times as often as firms.
Why Families Are Falling Behind
The rise has been steady rather than sudden. The rate was 2.94% in February 2025 and 11.2% a year later, according to Cadena 3, which described a quadrupling.
By April 2026 it had reached 12.1%, and by May 12.8%, where it held in June after 19 straight monthly rises, Infobae reported. July’s 12.9% resumed the climb.
Economists cited in Argentine media link the trend to consumer credit that expanded quickly while real incomes lagged. When wages do not keep pace with repayments, households that borrowed in better conditions begin to miss instalments.
Companies in Arrears
A private report by Fidelitas, a local financial consultancy, estimated that 57,045 companies were in irregular payment status in July 2026. That is almost 12% of Argentina’s roughly 480,000 active firms, according to Infobae, C5N and MDZ.
The same report put the year-on-year increase at 56.5%. Between January and July 2026 alone, the count of firms in arrears rose 18.7%.
The trajectory is steep: 28,258 companies in January 2025, 48,078 in January 2026 and 57,045 by July. The figure comes from a private consultancy using official data, not from a published central bank statement.
The IMF Review Opening Monday
The International Monetary Fund is the Washington-based lender that agreed a US$20 billion programme with Argentina in April 2025. Its staff mission arrives on Monday 21 September for the third review of that arrangement.
The review will focus on two things: the central bank’s purchase and accumulation of foreign reserves, and the government’s primary fiscal surplus. The 2026 programme targets US$10 billion in currency purchases and a primary surplus of 1.4% of gross domestic product.
Argentina has already exceeded the reserves goal. The central bank has bought more than US$14.2 billion and accumulated about US$9 billion in net reserves, above the programme’s benchmarks.
The fiscal side is harder. The government missed its first-half commitment, Infobae reported, making the budget outcome a central question for the visiting team.
What the Mission Means for Markets
A successful review keeps Argentina inside the programme and its scheduled payouts flowing. The second review, approved in May 2026, released about US$1 billion and took total disbursements to about US$15.8 billion.
The size of any disbursement tied to this third review is not confirmed. Under the programme’s schedule, reviews from 2026 onward are semi-annual, with about US$714 million pencilled in for each remaining review.
For ordinary Argentines, the more immediate question is credit. With 12.9% of family loans in arrears, banks tend to tighten lending.
Households hoping to borrow for a home, a car or a small business then find it harder to qualify. Companies behind on their bank debts face the same squeeze on new credit.
Argentina Last in AI Adoption Ranking
Separately, a Goldman Sachs research report ranked 28 countries by what it calls implied adoption of artificial intelligence. Argentina came last, with just under 10% of its population using AI tools, Infobae reported on 19 September.
The countries at the top, with adoption near or above 20%, include France, the United States, the Netherlands, the United Kingdom, Germany and Norway. The report does not clearly identify a single first-placed country.
Radio Mitre noted that Argentina’s adoption rate is lower than Brazil, Mexico, Chile and Colombia among the emerging economies covered. The ranking measures use of AI tools, not investment or industrial capacity.
The Wider Picture
Argentina’s delinquency problem and its AI gap point in the same direction: an economy recovering unevenly. Reserves are rebuilding, but the fiscal target was missed and household finances remain strained.
The IMF mission will deliver its assessment in the coming weeks. Its conclusions will shape how much external support Argentina can count on through 2027, and how quickly credit can start flowing again.
Frequently Asked Questions
How high is delinquency on family loans in Argentina?
The central bank reported 12.9% of bank credit to families in irregular payment status in July 2026. That is the highest level since 2004 and compares with 5.6% a year earlier.
How many Argentine companies are behind on payments?
A private Fidelitas report counted 57,045 companies in arrears in July 2026, almost 12% of roughly 480,000 active firms. The figure comes from a consultancy using official data, not a published central bank statement.
Why is an IMF mission going to Argentina?
The mission arrives on Monday 21 September for the third review of Argentina’s US$20 billion loan programme agreed in April 2025. It will examine foreign reserve accumulation and the government’s fiscal surplus target.
Has Argentina met the programme’s targets?
The central bank has exceeded the reserves goal, buying more than US$14.2 billion against a US$10 billion target. The government missed its first-half fiscal commitment, which the mission will examine.
Where does Argentina rank on AI adoption?
A Goldman Sachs report placed Argentina last among 28 countries, with just under 10% of the population using AI tools. Countries at the top, including France and the United States, are near or above 20%.
Sources: Infobae, 18 September 2026: family delinquency reaches 12.9%, MDZ, 18 September 2026: family and company delinquency rates, Infobae, 15 September 2026: 57,045 companies in arrears, Infobae, 17 September 2026: IMF mission and programme targets, TN, 10 September 2026: IMF confirms mission for third review, Infobae, 19 September 2026: Goldman Sachs AI adoption ranking, Cadena 3, 27 April 2026: family delinquency quadruples in a year
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