Nothing more scandalous and senseless than what is happening in the country with interest rates, and it seems that it is an unnoticed fact by the economic authorities, which permanently raise the rate allowed for the payment of remunerative or default values. ordinary and consumer loans.
Usury reached 45.27%, which makes it impossible to continue borrowing from financial institutions, since any transaction becomes more expensive, bringing as a consequence the paralysis of the economic dynamics and, consequently, the slowdown of the productive apparatus and the reduction of the income of the Colombians.
Credit cards can no longer be “touched” and if they are used, it is advisable to pay them within a maximum period of thirty days to avoid paying expensive interest that makes the purchase of goods and services by this means unfeasible.
But the purchase of housing is also affected, because mortgage loan rates have increased, a circumstance that ostensibly decreases the construction chain and frustrates the dream of having their own home for those who are currently applying for housing loans, and with greater reason for VIS and VIP.
The Banco de la República continues to raise rates to such an extent that it has now increased them by 75 basis points, altering the maximum value of interest, thus raising the cost of all types of credit, putting pressure on the market and, for this reason, , discouraging investment to the point of causing unemployment and lack of income.
It seems to me that what is happening is very serious, because banks are increasingly shielding their commercial operations by demanding higher requirements for credit approval, which forces small businessmen to go to the “extra-bank market” with very high interest rates for users. .
The national government should intervene in the market by offering cheaper loans for entrepreneurs and investors that promote employability as a fundamental factor of social and economic development.
Usury is classified as a crime, so many should be prosecuted and punished.
However, it is the market that sets the usury and it is the Financial Superintendence itself that certifies such an economic outburst that limits those who require working capital, as well as investors to generate productive employment.
How long will interest rates continue to rise to seek to lower inflation with measures that are harmful to the pocket of citizens? No more usury.
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