Guatemala Launches Credit Phase of National Financial Inclusion Strategy

Guatemala's Commission for Financial Inclusion (COMIF) has officially begun the second phase of the National Financial Inclusion Strategy (ENIF), shifting focus from expanding bank‑account access to extending credit for households, micro‑ and medium‑size enterprises and entrepreneurs. The launch event gathered over 100 participants, including banks, insurers, cooperatives, fintech firms and micro‑credit companies. Data from the Bank of Guatemala show that account ownership has risen from 37% to about 69% of adults, with overall financial inclusion reaching roughly 85% when cooperative and fintech users are counted. However, only 16.7% of the population currently holds a loan, far below the more than 50% rate in neighboring Colombia. The new phase aims to close this gap by promoting responsible credit, increasing savings, and expanding digital payments, with officials highlighting the potential for broader economic development.