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Reactiva Peru registers delinquency ratio of 1.3%

Reactiva Peru registers delinquency ratio of 1.3%

Yesterday afternoon, the head of the Ministry of Economy and Finance (MEF), oscar grahamreported that delinquency in loans from the Reactiva Peru program amounts to 1.3%.

“To date, the delinquency ratio of the program (Reactiva Peru) is 1.3%, ostensibly lower than in loans to micro and small businesses, which are around 7.7%”, he stressed.

It is worth emphasizing that this program was created during the first year of the pandemic to guarantee the subsistence of companies in a context of productive stagnation typical of restrictive measures.

In that sense, Graham recalled that more than 450,000 mypes were financed —98% of the total program— with guarantees for more than S/ 52,000 million.

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“Obviously it was done in a scenario of giving liquidity immediately, especially to micro and small companies. We are now in the process of returning these credits, which have a guarantee from the State. They were staggered, for the largest loans the guarantee is less, and for the smallest ones the guarantee is much greater, “said the minister.

These statements came days after the President of the Council of Ministers, Hannibal Torrespointed out that “many companies and large companies are not paying” the requested loan.

How does Reactiva Peru work?

The head of the MEF stressed that in the event of a failure to pay the debt by a company -for 90 days-, the financial entity that executed the loan requests the honoring of that guarantee to pay said credit with the Central Reserve Bank of Peru (BCRP). Although he clarified that this would not imply that the debt disappears.

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“The debt is not extinguished, the debt continues to be collected. The State faces this honor after 90 days, but then it is the obligation of the financial entity and the State to continue with the collection of these breaches, “he said.

It is necessary to remember that until December 31 of last year, companies could reschedule the credits obtained within the framework of Reactiva Peru.

According to Cofide, some 160,560 companies deferred their program payments. This handful represents 33% of the total beneficiaries, and 94% are mypes.

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On the other hand, regarding the FAE-Mype program, also at the end of the period of validity established to benefit from the rescheduling of guaranteed loans, a total of 14,575 beneficiaries are mypes and have been accessing the rescheduling of their requested credits.

The data

Against the clock. Currently, the Business Support Program for Micro and Small Businesses (PAE-Mype) is in force, whose deadline to apply expires on March 31 of this year. And despite the fact that it was expected to benefit 156,000 entrepreneurs, only 7.2% were executed.

Source: Larepublica

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