# EXCLUSIVE: Credit Slowdown Has Hurt Colombian Businesses, Sparked Unrest, Central Bank Governor Says

> Colombian central bank governor Leonardo Villar told Bloomberg Línea that the current credit slowdown was necessary to curb inflation and eventually allow lower rates. He said it has hurt businesses and contributed to social unrest. The bank had cut its benchmark rate by 50 basis points to 12.25% at the end of the first quarter.

- Date: 2024-04-09 · published 2024-04-09T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/31045-exclusive-credit-slowdown-has-hurt-colombian-businesses-sparked-unrest-central
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

Tight credit and high borrowing costs weigh on Colombian livestock and feed-related business activity and investment. The story is mainly about monetary policy and has little direct effect on feed commodity prices.

## Sources

- bloomberglinea.com: https://www.bloomberglinea.com/english/exclusive-credit-slowdown-has-hurt-colombian-businesses-sparked-unrest-central-bank-governor-says/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.