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Financial literacy and credit management in Latin America

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2026-10-16 21:52 UTC → 2026-10-20 17:22 UTC · added removed

Efforts to improve financial literacy and credit management are expanding across Latin America and the Caribbean. In Mexico and the Dominican Republic, initiatives have focused on teaching consumers how to monitor credit scores and understand the distinction between having no credit history versus a negative one. Experts emphasize that while financial inclusion via savings is rising, building a functional credit history requires specific use of credit products and demonstrated repayment behavior. Further developments in Mexico include the launch of In Mexico, Condusef recently held the 19th National Financial Education Week by Condusef, providing public (SNEF) in Mexico City from October 15 to 18, 2026. The event provided free workshops and lectures on savings, retirement, savings planning, responsible credit use, retirement preparation, and fraud prevention. Meanwhile, in Colombia, Asobancaria reports indicate that economic instability and high labor informality rates complicate informality—affecting 55.7% of workers—complicate debt repayment, often driving repayment. When income fails to cover expenses, individuals toward often turn to informal loans when formal credit becomes inaccessible. due to economic capacity and behavioral biases like “present-bias impulsivity.” Regional engagement has also increased in El Salvador and Chile. In El Salvador, the seventh World Savings Day Congress featured discussions on the psychological factors of money management and personal discipline. In Chile, the Second National Meeting on Financial Education (ENDEF) brought together authorities from the Commission for the Financial Market and the Central Bank to address financial inclusion and the role of civil society in promoting economic literacy.

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  1. 2026-10-20 17:22 UTC Financial literacy and credit management in Latin America
  2. 2026-10-16 21:52 UTC Financial literacy and credit management in Latin America

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