Ilich López promotes debate on the amendment of the interest rate cap law for loans.

The recent statement by Ilich López, the new president of the Economy Commission of Congress, has sparked a broad debate regarding the law that regulates interest rate caps on loans. According to López, this regulation has created a favorable context for so-called "gota a gota" — informal lenders who operate outside the law — to take advantage of the economic vulnerability faced by many citizens. In his view, it is time to modify this law to protect not only clients with no credit issues but also those who, for various reasons, find themselves in complicated situations. López argues that the current regulation, by limiting the ability of banks and financial entities to adjust interest rates based on the client's risk, ultimately excludes many people from accessing formal credit. "We will not see a repeal, but a modification," he emphasized, highlighting that the goal is to find a balance that protects consumers without leaving them in the hands of informal lenders. The parliamentarian illustrates his argument with a clear example: if a client is late by a couple of days on their payment, they are automatically considered high risk by financial entities. This not only prevents them from accessing new credit but also pushes them to seek solutions in the informal market, where interest rates can be exorbitant and conditions abusive. "And since they need money, where do they end up? With 'gota a gota,'" he stated. In addition to addressing the issue of interest rates, López emphasized the need for reform in the National Superintendency of Customs and Tax Administration (Sunat). He criticized what he sees as a punitive approach by this entity, which often translates into an additional burden for small businesses. In his view, it is crucial for Sunat to adopt a more educational and less sanctioning role to facilitate access to financing. The president of the Economy Commission also highlighted the importance of creating new jobs. According to López, the country needs to generate 350,000 jobs annually to meet the growing demand in the labor market. To achieve this goal, sustained economic growth of 5% is essential, which in turn requires significant investment in key sectors such as services, agriculture, metalworking, production, and fishing. "We must encourage investment in these sectors that generate more jobs," he stressed, emphasizing that it is fundamental to establish clear rules that attract both domestic and foreign investors. In his opinion, the state must also play an active role in this process through public investment. A central aspect of his proposal is the need to strengthen credit for micro and small enterprises, which are often the most affected by the limitations imposed by the interest rate cap law. The lack of access to financing can condemn many of these businesses to informality or reliance on unreliable credit sources. The proposal to modify the interest rate cap law, as well as the criticism of Sunat, has resonated with various sectors of society. Many agree that it is necessary to create a more friendly environment for entrepreneurs, enabling them to access financing and grow sustainably. However, there are also voices warning about the risks associated with possible relaxation of the interest rate caps. Some economists point out that a change in this direction could lead to an increased financial burden on the most vulnerable consumers, who are already facing economic difficulties. The debate is on. Ilich López's initiative raises fundamental questions about how to balance consumer protection with the need to foster a more inclusive and accessible financial system. The upcoming discussion in Congress will be crucial in determining the direction of these proposals and their impact on the national economy.