Measures against the COVID pandemic implemented by the Colombian financial sector are equivalent to 38% of GDP

Santiago Castro, president of the Colombian Banking and Financial Entities Association (Asobancaria), said that measures implemented by the sector, associated with grace periods, new credits, among others, reach $105 million to date, 38% of GDP. The banking sector has granted relief to nearly 11.8 million debtors, totaling almost 21% of GDP (39.2% correspond to commercial loans, 36.2% to consumer loans, 21.8% to housing and 2.8% to microcredit).

Source: La República