GreenBox
INTEREST RATES:
Interest rates have always been a major concern in Colombia it is said that interest rates are too high in Colombia and that they affect the poorest people in Colombia because the wages are too low and sometimes a quarter of the wage is spend it on interest rates.
Banks loans interest rates the majority of the cases are too high and make it difficult to the people to pay loans and let them progress.
“El Banco de la República subió sus tasas de interés de 7,5% a 7,75%. La entidad indicó que el propósito del incremento es combatir las mayores expectativas de inflación y reencausarlas a la meta del 3%.” (Portafolio, 2016)
On the graph we can see how the TI and the DTF are fluctuating between the 6% and 8%, it also show us that it has been decreasing from 2009 to 2015 but again from 2015 to the last trimester and beginnings of 2017 has increase and this leads to major debts and in some occasions people no paying their loans due to the high interest rates.
Finally we can say that the interest rates are growing again in Colombia as in past years. This is not something good because it will be harder for families to take a breath on their debts because for every loan no matter if it small o huge the amount of interest is going to be something too hard to pay for. Colombia has also placed a new “reforma tributaria” and that is one reason why some interest rates are getting higher than others, also some taxes like IVA has gone from 16% to 19%. In this moment the UVR is at 243,7757 and the DTF (EA) is at 6,81%.
http://www.dane.gov.co/index.php/indicadores-economicos
http://www.banrep.gov.co/economia/pli/bie.pdf
http://es.tradingeconomics.com/colombia/interest-rate
