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Panama: Reforming the credit bureau law
Many of Panama’s 300,000 small and medium businesses—employing 68% of workers in the country—were cut off from loans under previous credit bureau regulations. And more than 40% of Panamanian adults, mostly the poorest, had no formal credit options. This was in spite of Panama’s advanced financial markets.
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Peru: Bringing more credit to the private sector
Most entrepreneurs in search of a loan go to the bank. But in countries with inadequate collateral laws, banks are less willing to lend—as in Peru before the 2006 reform of its secured transactions law. For recording security interests, Peru used to have 17 registries for different kinds of assets, each with its own regulations and requirements.
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Trinidad and Tobago: Bringing credit reform to the Caribbean
Before 2004, getting comprehensive credit information was a challenge for lending institutions in Trinidad and Tobago. But some saw an opportunity to innovate and create the first fully automated credit bureau in all of the Caribbean .
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Bolivia: Finance for all, Integrating microfinance to credit information sharing
In 2001, Bolivia’s borrowers had taken out too many loans and they could not pay them back. Amidst an economic crisis, people were demanding that their debts be forgiven. In July 2001, the situation got so bad that hostages were taken at the Superintendence of Banks and Financial Entities, Bolivia’s financial regulator. What could regulators do?
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China: New property rights law
After a record 14 years of consultation, China’s long awaited new Property Rights Law was finally passed on March 16, 2007. For the first time the law offered equal protection to socialist public property and private property.
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