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Peru The Best Place For Microfinance, Says The Economist

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LIMA, April 18 (BERNAMA-NNN-ANDINA) — Peru offers the best microfinance business environment for the fifth year running, as it maintained its first place in the global ranking, according to the Economist Intelligence Unit’s Global Microscope 2012.

The Andean country scored 79.8 out of 100, followed by Bolivia, Pakistan and the Philippines.

The report said that Peru remains in the number one position, resulting from a strongly competitive microfinance (MF) sector and sophisticated regulatory environment.

It also noted that the country’s regulatory framework for deposit-taking was strengthened, while the government continued to promote price transparency and financial literacy.

Peru’s credit bureaus also provide both reliable and comprehensive information on borrowers, the Microscope study showed.

In turn, Latin America still remains the best represented region in the study with 21 of the total 55 countries. Latin America has also continually performed the best among all regions included in this study.

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