On April 14, the Executive Power issued Resolution No. 134-2020-EF/15, containing the regulations governing the “Reactiva Peru” Program to regulate all the operational aspects involved in the program’s implementation, as well as the collection mechanism for the population and the duration of the exercise itself. In turn, it also establishes a procedure granting companies a government guarantee for credits placed by entities in the financial system.
Decree No. 1455 set up the “Reactiva Peru” Program envisaging financing to help companies sustain their capital funds, if they comply with their payments and obligations to workers and their goods and services suppliers to ensure the continuity of the payment chain.
The regulations establish that the loans granted by the State cannot be used to finance the acquisition of fixed assets, purchase shares in companies, bonds and other monetary assets, nor make capital contributions. Likewise, they may not be used to pay off past due obligations of the debtor companies with Entities from the Financial System (ESF, for its acronym in Spanish).
Also, any loans granted by the ESF to debtors which have already been qualified and verified, and have the backing of the guarantees necessary, will be covered according to the percentages indicated in the rules.