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Amid the debates in the Congress of the Republic and criticism from some sectors of production for the problems they have had in accessing government resources that allow them to meet payroll and other obligations, the statistics of the Superintendency Financiera show that in the last three weeks of this emergency, not only have close to 17 billion pesos been disbursed, but those resources will flow more rapidly in the coming days.
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Jorge Castaño Gutiérrez, financial superintendent, told EL TIEMPO that if greater speed is required from the bank to streamline these disbursements, they will continue to do so.
The official also stressed that in the midst of this situation, the banks are capable of assuming greater risks and have enough space to reduce their interest rates in a gesture of solidarity with people and companies given the current economic and social emergency.
Superintendent, are the employers’ complaints that they are not getting credit or the government’s reliefs valid?
I mean
Disbursements are being made and are significant, about 17 billion pesos between the last week of March and April 17. I am not saying that they are sufficient, we require more speed, more effectiveness and if we need to continue generating pressure from the perspective of the superintendency, we will do it, but we cannot lose sight of the fact that these are credit and thus have a guarantee or not from the State, they must be assumed and paid by the people and companies that take them.
But where are those loans going because people are complaining?
I mean
To all sectors, only that many times, perhaps, these loans are not the help that some SMEs are waiting for or need, because they are not resources that are given away; If so, they would be subsidies, but since they are not, it is money that must be returned in the conditions agreed upon under the emergency because it is money from the nation or from savings from the public.
In the last week alone, between April 11 and 17, more than 4.53 million loans were disbursed for a value close to 4.9 trillion pesos, of which 3.62 trillion went to about 384,000 companies .
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And to the microenterprises that are among the hardest hit …
I mean
There is a very sensitive need for disbursements there, barely 877 micros accessed resources for about 5,800 million pesos and this can be explained in the announcement of the support up to 90 percent announced by the National Guarantee Fund (FNG). Given this, the banks that, up to that date, disbursed 17 trillion without that support, stopped disbursements.
Until April 15, the FNG took out only nine loans with its guarantee of 1,930 million pesos, everything else is with resources from the financial sector.
But many entrepreneurs say they go to banks and are not lending them …
I mean
It may be because they are lending to those who in some way have the ability to pay over time. The six-month grace periods give entrepreneurs the space to reactivate, but it is assumed that their ability to pay should already be available at that time with the understanding that their business is operating normally.
Now, there are some sectors, such as bars, in which it is very difficult to measure risk, so banks will have to distribute the available resources among the sectors with lower levels of risk. For the guarantees of the FNG, it is this entity that sets the conditions of the risks because, in the same way, it must take care of that volume of resources that they put into play because, I repeat, they are not subsidies, but resources of the nation.
You say you will continue to push for disbursements to speed up, why do you think banks will?
I mean
This week and those to come there will be more rapid delivery of resources to the economy because the issue of guarantees and resources is clearer. For example, just on Monday it was clear how the operation of the 731,000 million that Findeter has will be.
I communicate with the banks every day and tell them ‘what happened to the disbursements’ and I see that there is a commitment. Look, big bank disbursements are coming this week: Banco de Bogotá informed me that it has a trillion pesos ready for 3,000 companies, Davivienda has another 300,000 million for a group of selected companies, Bancolombia comes out with 250,000 million for 2,300 micros. This is a first as many, but more will come in the coming weeks.
Are there enough resources to irrigate those who need them?
I mean
This week and the other said numbers should start to move faster, but the time may come when they stagnate, despite the fact that there are many companies and people who need these loans, but still do not have the ability to pay. I am defending so that these credits reach the businessmen of the country very quickly between this week and the other.
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What sectors are credits reaching?
I mean
Those with FNG guarantees are reaching all sectors, but importantly to trade (wholesale and retail), construction, manufacturing, and, according to a report sent to me by the FNG, for the last two days, Bogotá , Valle del Cauca and Antioquia are the most favored regions, since in these there is the highest concentration of companies in the country.
A repeated complaint from businessmen and people is the high interest rates, what to do in this regard?
I mean
On the subject of interest, the transmission of the cut in the Banco de la República rate to the cost of credit for individuals and companies is not the technical discussion that should be given because people, under these circumstances, will not understand it.
I believe that there is enough space to lower interest rates for a specific time; in fact, some banks were able to do it for credit cards, such as Bancolombia, the four entities of Grupo Aval (Bogotá, Popular, AV Villas and Occidente), Banco Caja Social, among others, for food and medicine purchases, some even reduced important proportions, which shows that an additional effort can be made on this front.
I do make a call for the banks because the interest rates have to be reflected within what is sensible to remunerate the risk, but not to take advantage of the situation either. But, I insist, if there is a space to adjust interest rates downwards, regardless of whether the Issuer’s cuts are transmitted or not, that is not a discussion that should take place at this time, it is more an act of conscience and solidarity in face of what is happening in the country and in the world.
Do you think it is a lack of commitment from banks?
I mean
Look, here the banks should commit themselves more to align themselves to make an adequate segmentation of their interest rates, is what we have been talking with the bankers, some are very hard, others not so hard.
Carlos Arturo García M.
On twitter: CarlosGarciaM66
[email protected]
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