Overview

• Starting in November, the legal cap on soles-denominated loans will fall to 113.16% from 115.14%, according to the central bank.
• The ceiling was created by a 2021 law aimed at curbing usury and reducing borrowing costs for consumers.
• Bank and microfinance executives say the cap has already excluded about 500,000 higher-risk people from formal credit access.
• Specialists warn the lower threshold could deter lending to MYPEs and push some borrowers toward unregulated “gota a gota” loans.
• Economists emphasize the reduction reflects the formula and broader macro conditions, with consumer loans and credit cards most exposed.