Extreme Indebtedness and Lack of Credit Access: The Landscape That 'Puts the Country's Financial Stability in Check'

TL;DR

Only 35% of Colombian adults have access to formal credit.
Lack of formal credit pushes a significant portion of the population towards informal lending ('gota a gota').
Informal loans carry extremely high annual interest rates, with households facing up to 382.2% and businesses up to 666.5%.
The 'gota a gota' system is often associated with violent collection practices.
Labor informality is closely linked to limited financial inclusion.
Organizations like Compensar are developing specific financial products for excluded populations.
Partnerships with digital finance entities like Entre Amigos aim to increase access to loans for independent and domestic workers.
These initiatives seek to improve financial inclusion, protect economic stability, and strengthen social development.

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