The drop in sales of Small businessthe blockades of roads and the suspension of attention in the agencies due to the violent demonstrations in the regions, especially in Arequipa, Apurímac, Ayacucho and Cusco, worries the municipal funds, since they could cause these businesses not to pay their debts on time and fall into default.
Only in the case of Arequipa, the drop in sales of micro and small businesses for the Christmas season could be up to 40%, according to the Development Studies Network. Added to this is the road blockade and the closure of municipal savings banks, which, according to Caja Arequipa, has been an average of 20 stores for each microfinance institution in the last week.
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Wilber Dongo, central business manager of the aforementioned financial institution, explained that “this is definitely worrying because it could affect the future risk rating and credit history of thousands of entrepreneurs who access a loan.”
“The sector is already affected. It is important that in this uncertain situation, the regulator provides measures that contribute to providing a solution so as not to affect the rating of each client and avoid the accumulation of penalties for delinquency,” said Dongo, calling on the Superintendency of Banking, Insurance and AFP (SBS).
