SMEs claim: to force banks to lend money at low cost

The Association of Small and Medium-sized Enterprises (Apyme) called for measures to alleviate the economic crisis that is causing the global coronavirus pandemic and the decision to apply mandatory isolation in Argentina until next Sunday, April 12.

“If SMEs fall, we all fall”, stressed Apyme in a statement in which he requested “a way out of the rupture of the payment chain to achieve the survival of SMEs, a fundamental pillar of the social fabric”.

On this point, the business association complained that “the financial system turned its back on the situation, leaving the production units without coverage, which not only have no commercial flow, but also cannot even move down the street to reach in person at the bank ”.

“This situation has caused us to drift,” stressed Apyme. And he continued: “We require that the National Government, through its sovereign institution, the Central Bank, urgently take the necessary measures so that the financial system assists with an automatic credit (without qualification and without bureaucratic obstacles) that covers the checks already issued previously while the quarantine is maintained, thus avoiding the breakdown of the chain of payments ”.


Additionally, SMEs ask to be assisted urgently for the payment of salaries. Specifically, Apyme demanded a credit equivalent to a total of three months of invoicing, at a negative real rate.

For the entity, the State must “compel banks to support the emergency to sustain production and employment, a function for which they were created.”

“If the urgent intervention of the national and provincial government is not mediated in the manner of banking operations, the much-feared breakdown of the payment chain will be consolidated, producing a collapse never seen before. With this, we will come to the sad and complete demonstration that if SMEs fall, we all fall, “concluded Apyme.

SMEs. They assure that they are on the verge of collapse if there is no financing to pay the salaries. (THE VOICE / File)

Written by Argentina News

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