Argentina Launches Refrigerator Swap Plan To Spur Buying
"This will both help stimulate consumption and give work to manufacturers," Fernandez said.
Fernandez said the loans will carry an 11% interest rate and can be repaid in 12 monthly installments.
The plan is perhaps the least significant of any the president has announced in recent weeks and is unlikely to boost spending substantially or prevent the economy from cooling down abruptly.
Earlier Thursday Torcuato di Tella University released a survey indicating that consumer confidence in December plunged 5.3% from November. The survey reported that fewer people plan to make new purchases while more people are concerned about their personal financial situations.
Meanwhile, a growing number of economists are forecasting a sharp economic slowdown and possibly even a recession in 2009.
-By Taos Turner, Dow Jones Newswires; 5411-4590-2421; taos.turner@dowjones.com
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Publié le 18 Décembre 2008 Copyright © 2008 Dowjones
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