Argentina is famous for its public defaults and also its private debt. But in the area of individuals there is a lot of work in the shadows to avoid that scenario.
According to the latest report on BCRA banks from December 2023, the system's arrears increased 0.5 percentage points to stand at 3.7%. In the case of loans to companies it reached 4.4% and in families, 2.8%. In Brazil, default rates for companies and families are higher, reaching 4.9%. In Chile, according to a study by Equifax (the owner of the Veraz index), 26.4%.