ARThe article discusses the concept of usury in Argentina, defined as charging excessive interest rates on loans that exploit the borrower's vulnerability. Unlike many jurisdictions that set a specific legal limit for usury, Argentina does not have a 'magic number' or fixed percentage. Instead, judges assess whether the agreed-upon interest rate is abusive by comparing it to market rates at the time of the loan. The main legal framework comes from the National Civil and Commercial Code, which allows for the nullification or modification of contracts if one party exploits another’s weakness. Two reference rates published daily by the Central Bank, Badlar and Tamar, are used as benchmarks. However, current lending rates in Argentina often exceed these benchmarks by 20–30 percentage points, raising concerns about potential abuse.
Bias read (Center): The article provides a balanced explanation of the legal framework around usury in Argentina, referencing judicial criteria and economic benchmarks without overtly favoring any political stance. It avoids taking sides but highlights systemic issues in credit pricing, which could be interpreted as aÂ
