Our advice has always been or will be not to borrow in dollars unless you earn (salaries, allowances, etc.) in dollars.

La República reports on February 7, 2024, some comments regarding borrowing in dollars, made by Elizabeth Morales from Coopecaja, which we summarize below:

She warns about the risks of borrowing in dollars when one does not earn in that currency, despite the low price of the dollar in relation to the colón. Although loan installments may remain stable, there is always a risk of liquidity loss.

Factors affecting the reduction of interest rates by the Central Bank

The Central Bank does not lower loan interest rates more rapidly due to the lack of inflationary pressure and indicators of economic growth. Price stability and leveled consumption influence this decision.

Central Bank’s alert to the international market

The Central Bank is attentive to movements in international markets and how they affect the decisions of local investors. Although a decrease in rates would be expected with fiscal improvement, this trend has not yet materialized, mainly due to expectations in external commercial markets.