{"id":23993,"date":"2019-02-18T20:08:02","date_gmt":"2019-02-18T19:08:02","guid":{"rendered":"http:\/\/www.fundacionmicrofinanzasbbva.org\/en\/reto-formalizar-las-mipymes-debate\/"},"modified":"2019-02-26T13:03:58","modified_gmt":"2019-02-26T12:03:58","slug":"reto-formalizar-las-mipymes-debate","status":"publish","type":"post","link":"https:\/\/www.fundacionmicrofinanzasbbva.org\/en\/reto-formalizar-las-mipymes-debate\/","title":{"rendered":"The challenge of bringing MSMEs into the formal economy, discussed"},"content":{"rendered":"

This global challenge was the topic of the address given by Mercedes Canalda, Executive President of Banco Adopem<\/a> during the \u2018Seminar-Workshop on experiences in bringing Latin American and Caribbean MSMEs into the formal economy\u2019. The head of BBVA Microfinance Foundation<\/a>\u2019s institution in the Dominican Republic stressed the importance of understanding the reality of the small and medium-sized enterprise sector so that authorities and stakeholders can design policies tailored to each context.<\/strong><\/p>\n

Canalda recommended weighing the operational and transactional costs that dissuade the most vulnerable segments from joining the formal economy.<\/strong> She also advised on measuring the success of this transformation in terms of income earned and opportunities created.<\/p>\n

SELA, the Latin American and Caribbean Economic System, is aware that in Latin America, a high proportion of businesses in the private sector are informal MSMEs. This is why, along with other significant players in regional development, it organized this seminar-workshop<\/a> which has gathered experts from the private, public and academic spheres, as well as international bodies, to share their experiences in reducing the proportion of micro, small and medium-sized enterprises in the region that operate outside the formal economy.<\/p>\n\n\t\t