MercoPress, en Español

Montevideo, October 25th 2021 - 10:51 UTC

 

 

Consumers' debts threaten the Peruvian banking system

Friday, October 2nd 2020 - 09:09 UTC
Full article 2 comments
Economy Minister María Antonieta Alva said banks were increasingly under pressure as Peruvians have struggled to pay mortgage, consumer and small business debts. Economy Minister María Antonieta Alva said banks were increasingly under pressure as Peruvians have struggled to pay mortgage, consumer and small business debts.

Peru's economy could plummet by more than 20% if unpaid consumer debts continue to mount, a scenario the government hopes to stave off with an emergency plan to reschedule troubled loans with state guarantees, the government said on Thursday.

Economy Minister María Antonieta Alva said banks were increasingly under pressure as Peruvians have struggled to pay mortgage, consumer and small business debts, leaving the country on the brink of crisis.

”If there were a disruption in the financial system, we believe that the projections of the fall could be much higher than the (previously predicted) 12%,” Alva said, adding that gross domestic product could plummet by 20% or more.

Alva said the government-proposed bill would back consumer loans with state guarantees and reschedule them. Lawmakers, by contrast, have put forward a proposal to freeze unpaid debts, a measure President Martin Vizcarra opposes because it would violate contracts between lenders and consumers.

Alva specified that under its plan, the state would back loans up to $1.39 million for people or small business with a strong credit history prior to the pandemic.

The plan would extend the repayment period for loans and reduce the interest rate by up to 20%, a move that would benefit some 3.4 million debtors, she added.

Categories: Economy, Politics, Latin America.

Top Comments

Disclaimer & comment rules
  • Chicureo

    Güeón IMPORTANT NOTICE Güeón PAY ATTENTION Güeón

    Güeón — please pay attention. Knowing your very special character — I again would greatly recommend the knowledgable and quote filled Terence Hill as a very suitable partner who has an exciting and dynamic entertaining lifestyle:

    https://youtu.be/TE9PscWM_QE

    Although he's an unemployed VIRGIN living in his mother's BASEMENT, you can't deny he'd make a marvelous significant partner that could educate you in weird Latin quotations and he has an incredible appreciation of inflatable sex toys.

    I think you Güeón and Terence would indeed be a marvelous matched odd couple.

    “Rudeness you've now painfully learned — does has its severe malicious consequences and payback is truly an evil bitch.” ~ Chicureo

    Cheers!

    Oct 05th, 2020 - 05:01 pm 0
  • Terence Hill

    Chicureo Pervert, Psychological Transferee, Malignant Narcissist, Criminal Libeller, & Spam King
    https://en.mercopress.com/2020/10/03/bolsonaro-nominates-liberal-judge-to-the-supreme-court-triggering-reaction-from-evangelical-supporters/comments#comment511883
    Is that better?
    Did you get any on you jackoff?

    Oct 06th, 2020 - 12:15 pm 0
Read all comments

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!