One of the most prominent announcements made by President Dina Boluarte during her message to the nation was the relaunch of Reactiva Perú, which aims to provide loans to companies with interest rates. Given this, The Republic consulted the head of the Ministry of Economy and Finance (MEF), Alex Contreras, what will be the characteristics of this state-guaranteed credit program.
In dialogue with this outlet, Contreras Miranda stated that, although the president initially said that the new Reactive Peru it would be relaunching towards the fourth quarter, the Executive intends to advance its implementation for this third quarter due to the fact that many companies need financing.
“We want to advance it now in the supplemental credit (bill), we are looking at that possibility; the idea was to do it at the end of the year, but we see that there are medium-sized companies that are being affected and that at this moment are not covered by our credit promotion schemes. Reactive 2 It is this boost to the Crecer Fund with some improvements, so we will probably advance this additional boost now in the third quarter,” the official explained.
Who would have access to the new Reactiva and how much would be allocated?
According to the head of the MEF, all productive sectors will be able to access the new Reactive Peru. He specified that fishing, agro-exporting, manufacturing and other businesses may request credits within the framework of this program. He also pointed out that it reaches medium-sized businesses.
Regarding the resources that would be assigned to the relaunch of the new Reactive Peru, the official indicated that it is still being evaluated. However, Preliminarily it would start with an amount of between S/500 and S/1,000 million in creditsbudget that would be adjusted according to demand.
What interest rate would the new Reactive have?
In it Reactive Peru launched during the pandemic, the average interest rate was 1.36%, in line with the reference rate of the Central Reserve Bank of Peru (BCRP) which stood at 0.25%. However, the current scenario has changed and the financial cost of the new credit program would be higher, although it would be well below what is offered in the financial system.
“Rates of reactive 1 They are unrepeatable because at that time the cost of money, which is the Central Bank’s reference rate, was 0.25%, that is, almost zero. Now that minimum rate is 7.75%, so the lowest rate that can be guaranteed is a rate close to the reference rate. Rates less than 10% without a doubt“, Contreras Miranda said.
Source: Larepublica
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