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Reactiva Peru: more than 42% of the loans are still owed

After more than two years of having implemented the Reactiva Peru credit program, thousands of companies have already begun to pay their loans as they have been reactivated; however, there are still outstanding balances.

Thus, as of October of this year, of the S/58,044 million granted in credits, more than S/33,308 million have already been paid, leaving a balance of S/24,736 million. In other words, more than 42% of the amount lent is owed during the pandemic, according to data from the Superintendency of Banking, Insurance and AFP (SBS). However, of the 502,200 companies that obtained a loan from Reactive Peru, only 70,517 businesses have already complied with all their payments. In this way, the debt of S/24,736 million corresponds to 431,683 companies, mostly micro and small entrepreneurs (392,248), who have been the hardest hit in recent years.

Likewise, companies in the commerce sectors; manufacturing industry; transport, storage and communications; and real estate, business and rental activities, concentrate 76% of the balance of guaranteed loans. Delinquency at 7% According to the head of the Ministry of Economy and Finance (MEF), Alex Contreras, Reactiva Peru’s delinquency stands at 7%, despite the fact that when the credit program was created, losses of 25% were estimated.

“The latest data is that delinquency is around 7%, mainly focused on loans to smaller companies. It is a program that at the time helped to get out of the crisis, but it is over and our role as the Ministry of Economy and, in particular, the role of Cofide, which is the administrator, is to try to recover most of these resources” Contreras pointed out.

Arturo García, professor of Finance at ESAN Graduate School of Business, points out that although more than 50% of the loans have been paid, it is a positive development, considering that initially a double-digit delinquency was expected as a result of the risk that existed in that moment.

Several of the mypes benefited by Reactiva Peru have incurred in arrears. Photo: diffusion

For his part, Jorge Luis Ojeda, a Finance professor at UPC, indicated that, although Reactiva Peru’s delinquency rate is higher than the average for other loans, it should be taken into account that said program was created to avoid bankruptcy. of companies and interruptions in payment chains.

“This type of rescue always has high delinquency, a figure of 8% seems to me a relatively low figure, whereas the delinquency rate The average is between 2.5% and 4%, but it must be understood that there are some companies that, with the bailout, have not been able to continue operating either, so they have had to fall into arrears. It was part of what was expected, ”said the professor.


Alex Contreras, Minister of Economy and Finance

“At the beginning, we estimated losses of around 25%. This has been improving and the latest data indicates that delinquency is around 7%”.

Arturo García, ESAN professor

“I consider that 50% has been paid for the reactivation of the economy. It is having a better result in portfolio recovery than expected”.

Source: Larepublica


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