“The financial sector does not agree with forced investments”: Asobancaria
The national government's proposal to implement forced investments for the Colombian financial system has once again received rejection from the country's bankers.
TL;DR
- Asobancaria, represented by its executive president Jonathan Malagón, rejects the government's proposal for forced investments in the financial system.
- Malagón states that forced investments constitute unagreed cross-subsidies, allowing the government to favor certain borrowers at the expense of others.
- This rejection occurred during the closing of the 16th Congress of Access to Financial Services and Payment Methods (CAMP 2026) in Cartagena.
- The financial sector and the government met to discuss relief for regions impacted by cold fronts, agreeing to a 12-month grace period, no interest accrual, and preserved credit ratings for affected borrowers.
- The Ministry of Finance announced 270,000 new credits worth an estimated 5.2 trillion pesos for various productive sectors.
- The banking sector proposes a 15% increase in credit volume within a year, with the government offering up to 90% guarantees and rediscount resources for lower interest rates, especially for popular economies.