Fynsa
The Central Bank announced that it will begin a new international reserves accumulation program, with daily purchases of up to US$25 million per day, starting on August 8, with a duration of 3 years. From our projections, this program was expected. What is striking is the timing.
With a credit recovery led by the corporate segment, the boost to consumption and MSEs has come hand in hand with digital transformation. Platforms such as Yape and app banking have made it possible to expand access to credit, especially in sectors traditionally excluded from the financial system.
The balance of the first half of the year shows a new housing market that, although still showing signs of slowdown, is beginning to show signs of recovery.
While the number of millionaires is growing and massive wealth transfers are projected, Latin America is facing a contraction in its wealth, in contrast to the dynamism observed in North America, Asia and other emerging regions.
