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2 clusters · 11 sources · 2 days · First seen · Last updated

MSME economic challenges and development in Latin America

Overview

Micro, small, and medium-sized enterprises (MSMEs) across Central America and the Caribbean are navigating varying economic landscapes, with a central focus on credit access and financial stability.

In El Salvador and Panama, MSMEs are facing significant hurdles. In El Salvador, reports indicate that falling income is a primary issue, with 55.5% of struggling micro-businesses citing decreased revenue as the cause. In Panama, business representatives have called for urgent action to address limited credit access, excessive regulation, and reduced cash flow, noting that these factors contribute to business closures and high labor informality.

Conversely, in the Dominican Republic, MSMEs are being highlighted as essential drivers of social and economic development, accounting for approximately 61.6% of national jobs. To support this sector, the FinaRD 2036 Program, backed by the Inter-American Development Bank, is allocating US$100 million to strengthen development banking. This initiative aims to expand access to long-term productive credit by implementing more flexible risk assessments and accepting non-traditional collateral to assist micro and small businesses.

Entities

Dominican Republic · Alicia Jiménez · FUSAI · Clara González · FinaRD 2036 Program

Timeline

  1. 12 days ago

    [BUSINESS] 8 sources
    MSMEs identified as key drivers of Dominican Republic development

    Economist Clara González highlights MSMEs as vital to Dominican Republic's development, supported by a US$100 million IDB-backed program to improve credit access for small businesses and women entrepreneurs.

  2. 14 days ago

    [BUSINESS] 3 sources
    MSMEs in El Salvador and Panama face revenue and credit challenges

    MSMEs in El Salvador and Panama face economic strain due to falling revenues, decreased consumer demand, and difficulties accessing credit and flexible financing.

Sources

diariosocialrd.com · eldiariodehoy.com · elnuevodiario.com.do · lavozdelprm.org · m.n.com.do · n.com.do · precision.com.do · presidencia.gob.do · radionotas.com · traslashuellasdigital.com.do · tvn-2.com