Caputo Defends Officials on Banco Nación Loans: “Nothing Illegal or Immoral”
In the face of mounting controversy, Economy Minister Luis Caputo has publicly stood by officials from the Treasury Palace who have taken out mortgage loans from Banco Nación. Caputo asserts that there is no wrongdoing, maintaining that he even encouraged his team to pursue these loans.
Officials Involved
Among the officials highlighted in the mortgage loan controversy are Felipe Núñez, the director of the Investment and Foreign Trade Bank—who has an outstanding debt of $373,000,000 (approximately USD 315,000)—and Federico Furiase, the former director of the Central Bank and current Secretary of Finance, who has a loan of $367,059,000 (USD 280,787) since August 2025.
Caputo’s Justification for Mortgage Loans
Caputo defended the practice of obtaining these loans, stating, “They took them on my recommendation. I suggest everyone access mortgage loans because I consider it a unique opportunity.” His argument hinges on the belief that mortgage credit is vital for the economic reactivation of the country. He emphasized that it is a means of social justice, allowing employed individuals to acquire homes without the lengthy wait to save enough money to buy in cash.
He remarked, “What is fairer for someone who has a job than having their house and not having to wait 40 years?” According to Caputo, the value of properties is expected to rise, further justifying the urgency to take out loans now. “There is overstock, so the properties have not risen as much. It is a mega opportunity,” he added.
Reactions to the Controversy
Caputo expressed frustration over the scrutiny directed at these officials, declaring, “As for the boys, there is nothing illegal, much less immoral.” He dismissed the claims of misconduct as exaggerated, stating that such actions should not be treated as a crime.
Additionally, he assured the public that the rates, terms, and amounts of the loans are equivalent to those available to any citizen, subjected to comprehensive income and credit evaluations.
Common Practice in Public Service
Caputo stressed that it is entirely normal for public officials to seek loans from Banco Nación, given that they are government employees with salaries drawn from this entity. He even encouraged other public officials and citizens to take advantage of such opportunities if they can. “If more public officials could get loans, go and get them, everyone who can, common people, anyone. I would recommend it to everyone,” he stated.
To put the situation into perspective, Caputo noted that Banco Nación has issued over 27,000 loans, with cases involving officials constituting “less than 0.2%” of the total.
Conclusion
While some public discourse frames this issue as questionable or unethical, Caputo remains steadfast in his defense. He highlighted that a recent official, Leandro Massaccesi, was removed from his position after taking out a loan, but was quick to clarify that this action was unrelated to the loan controversy.
As the government continues to navigate the implications of these loans, public opinion remains divided, making it a topic to watch closely in the coming months.