Words by THE URBAN POPULAR ECONOMIES COLLECTIVE | 25 Jun 2022

The accelerated arrival of new proposals for financial inclusion in Argentina, further elaborated in the midst of the Covid-19 pandemic, can be analysed based on five points:

1. The launch of emergency subsidies during the pandemic involves recording and producing information about a new population in a process of accelerated precarity;

2. In order to receive their emergency subsidies, a precarious population is forced into the formal banking system, even when it is known that that such monetary transfers will only last for a short time, in other words, that the bank account will remain, but the subsidy will not;

3. The appearance of new technologies to mediate subsidy payments forms part of on-going disputes between private FinTech companies and public banks;

4. State interventions to “include” that population in a financial circuit that is also behind the exchange-rate runs to devalue the Argentine peso; and

5. The reconfiguration of domestic territories as a simultaneous process of increased precarity and financialisation.