Full Breakdown
Young Argentines’ Debt Surge Tests President Javier Milei’s Support
9/9/2026, 4:11:40 PM
Rising Debt Crisis Among Young Argentines
At 18, Martín Taborda enrolled in law at the University of Buenos Aires, only to find two years later that unemployment and a US$1,300 debt prevent him from affording bus fare or textbooks. He is one of many: the Centre for City Studies, an Argentine nonprofit that uses central-bank data, reports that nearly half of the country’s 45 million residents owe money and more than 5 million are behind on payments. Borrowers under 25 have the highest delinquency rate, at 37.6 percent. “There’s hardly any work for anyone in this country right now,” Taborda said, describing the pressure that has caused his debt to swell tenfold after borrowing just over US$100 through a mobile-payment app in 2024.
Policy and Government Response
Since taking office in late 2023, President Javier Milei has cut the budget deficit and reduced annual inflation from a 289 percent peak in early 2024 to about 34 percent in July. He argues that unpaid debts are a private matter between borrowers and lenders. Economy Minister Luis Caputo told reporters that banks are easing repayment terms but warned against “confusing empathy with public policy.”
Debt Statistics and Public Sentiment
Digital-payment apps, favored for their low paperwork, often charge triple-digit annual rates. A survey by pollster Zuban Córdoba conducted from July 22 to 26 found Milei’s approval at 33 percent, down from 49 percent in December 2025, with a ±2.5 percentage-point margin of error. More than 80 percent of adults surveyed in Buenos Aires and its suburbs in April reported that economic problems significantly affected their psychological well-being.
Opposition and Advocacy Voices
Public-opinion consultant Ana Iparraguirre of GBAO warned that the model is hitting young people harder than other Argentines and could jeopardize Milei’s re-election prospects.
Verbatim Quotes
- “There’s hardly any work for anyone in this country right now,” — Martin Taborda
- “There was a time when people took out loans to buy a house, an apartment, a car,” — Vanesa Bittoco, the advocate
- “They’re going to have to provide a solution,” — Vanesa Bittoco, the advocate
