© REGAR

GUARANTEE SYSTEM SITUATION IN LATIN AMERICA (2015)

TREND & PERPECTIVES KNOWLEDGE OF ACTITY.

REGAR is a Latin American Network recognized by the American Conference of

Heads of State and Government at the Summit of Paraguay and registered under No.

RRI/002 in the register of Ibero-american Network SEGIB Secretary General Ibero-

american.

© REGAR

Observatory of Ibero-american guarantee system: situation, prospects and trends.

By way of observatory, anually is elaborated a statistics of systems (and schemes) of Ibero-american guarantee system for general and sectorial information.

GUARANTEE SYSTEMS (CGSs): A GLOBAL REALITY / NEED

Source: own elaboration

Sociedades de garantía, jurídicas

Sociedades de garantía, jurídicas

mutualistas

Programa de garantía

Sin sistema/esquema de garantía

Internationationally

recognized reality

The CGSs are heterogeneous , not homogeneous

Represent different

safety, quality,

effectiveness, impact

and relevance

The more developed

countries use them more

intensively

AN OVERVIEW: GUARANTEE IN PORTFOLIO 2015 ($US

Millions)

Source: own elaboration

0

50000

100000

150000

200000

250000

300000

350000

Japan, korea and Taiwan

Europe (countries AECM)

Latin America US Canada

Japan, korea and Taiwan

57% Europe (countries

AECM) 16%

Latin America 4%

US 21%

Canada 2%

AN OVERVIEW: SMEs 2015

Source: own elaboration

0

500000

1000000

1500000

2000000

2500000

3000000

Japan, korea and Taiwan

Europe (countries AECM)

Latin America US Canada

Japan, korea and Taiwan

30%

Europe (countries

AECM) 28%

Latin America 29%

US 12%

Canada 1%

© Pablo Pombo

AN OVERVIEW: GUARANTEES IN PORTFOLIO / GDP 2015

Source: own elaboration

0,0000

0,0050

0,0100

0,0150

0,0200

0,0250

0,0300

0,0350

0,0400

0,0450

0,0500

Programas de Garantías

Sin Esquemas de Garantías o sininformación disponible

Sociedades de Garantía Mutualistas

Sociedades de Garantía MercantilesSocied. Merc. y otras ent. reg.

Sociedades de Garantía Mutualistas

Programas de Garantías

Sin Esquemas de Garantías

DISTRIBUTION OF CGSs IN LATIN AMERICA - MODELS

Source: own elaboration

GUARANTEE SOCIETIES, LEGAL

GUARANTEE SOCIETIES, MUTUAL

GUARANTEE PROGRAM

WITHOUT GUARANTEE SCHEME

131 guarantee entities (or schemes) in Latin America (106 Latin American and 21 in Spain and 4 in Portugal)

CONCEPT 2000 2005 2010 2013 2014 2015 INCREMENT

%

NUMBER OF MSMEs 358.108 879.199 2.304.028 2.992.607 2.722.899 2.562.785 615%

CURRENT GUARANTEES

($US MILLIONS) 2.258 4.836 19.236 26.746 25.566 21.798 865%

CTO IN PORTFOLIO ($US

MILLIONS) 3.675 7.653 30.737 44.246 42.794 34.775 846%

COMPARISON 2000, 2005, 2010, 2013, 2014 and 2015 IN

LATIN AMERICA

Source: own elaboration

Data from FINANCIERA RURAL – SAGARPA (Mexico) not available

615% 865 %

846 %

0

500.000

1.000.000

1.500.000

2.000.000

2.500.000

3.000.000

3.500.000

2000 2005 2010 2013 2014 2015

Nº SMEs IN PORTFOLIO

0

10.000

20.000

30.000

40.000

50.000

2000 2005 2010 2013 2014 2015

GUARANTEE IN PORTFOLIO ($US MILLONS)

CREDIT IN PORTFOLIO ($US MILLONS)

EVOLUTION 1998-2015. LATIN AMERICA ACTIVITY

Data from FINANCIERA RURAL – SAGARPA (Mexico) not available

0

5000000

10000000

15000000

20000000

25000000

30000000

35000000

40000000

45000000

50000000

PERMANENT RESOURCES

GUARANTEES ALIVE

CREDIT MOBILIZED

EVOLUTION1998-2015

LATIN AMERICA SMEs

Data from FINANCIERA RURAL – SAGARPA (Mexico) not available

0

500000

1000000

1500000

2000000

2500000

3000000

3500000

1998 2000 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

SME BALANCE

ANNUAL SMEs

% DISTRIBUTION BY YEARS OLD OF THE GURANTEE SYSTEMS / SCHEMES (CGSs)

IN LATIN AMÉRICA (2013)

Source: own elaboration

0,0%

5,0%

10,0%

15,0%

20,0%

25,0%

30,0%

35,0%

<5 years 5-9 years 10-14 years 15-25 years >25 years

9,4%

31,3%

15,6%

28,1% 15,6%

40.07% of the

guarantee systems

(CGSs) is less than

10 years old and a

56.30% less than 15

years old

SHARE IN % OF NUMBER OF, SMEs BALANCE AND GUARANTEES IN

PORTFOLIO AND CREDIT IN PORTFOLIO IN 2015

Source: own elaboration

3% 7%

90%

NO. ENTITIES

MEXICO CENTRE AMERICA SOUTH AMERICA

40%

1%

59%

CREDIT IN PORTFOLIO

MEXICO CENTRE AMERICA SOUTH AMERICA

10% 3%

87%

SMEs

MEXICO CENTRE AMERICA SOUTH AMERICA

30%

1%

69%

GUARANTEE IN PORTFOLIO

MEXICO CENTRE AMERICA SOUTH AMERICA

ACTIVITY AGRICULTURAL GUARANTEE SYSTEMS 2015

3%

97%

NO.ENTITIES

FARM SECTORIAL REST OF LATIN AMERICA

34%

66%

SMEs

FARM SECTORIAL REST OF LATIN AMERICA

19%

81%

GUARANTEES IN PORTFOLIO

FARM SECTORIAL REST OF LATIN AMERICA

16%

84%

CREDIT IN PORTOLIO

FARM SECTORIAL REST OF LATIN AMERICA

ACTIVITIES OF GUARANTEE SYSTEMS (CGSs) IN LATIN AMERICA AND

ESPAÑA-PORTUGAL 2015

% DE MIPYMES

PORTUGAL

0,2%

CENTRO

AMERICA 3,7%

AMERICA DEL

SUR

63,8%

MEXICO

26,6%

ESPAÑA

5,7%

% DE GARANTÍAS VIVAS

ESPAÑA

50,5%

MEXICO

16,6%AMERICA DEL

SUR

28,6%

CENTRO

AMERICA 0,5%

PORTUGAL

3,8%

2007

94%

6%

SMEs IN PORTFOLIO

LATIN AMERICA PORTUGAL & SPAIN

73%

27% GUARANTEE IN PORTFOLIO

LATINOAMÉRICA ESPAÑA Y PORTUGAL

GEOGRAPHICAL

DISTRIBUTION

LATIN AMERICA

2015

In Mexico is not available the data of FINANCIERA RURAL - SAGARPA

MEXICO 9%

CENTRE AMERICA

2%

SOUTH AMERICA

82%

SPAIN 5%

PORTUGAL 2%

% SMEs

MEXICO 22,07%

CENTRO AMÉRICA

0,53%

SOUTH AMERICA 50,01%

SPAIN 15,91%

PORTUGAL 11,48%

% GUARANTEES IN PORFOLIO

MEXICO 2,29%

CENTRO AMÉRICA

5,98%

SOUTH AMERICA 72,52% SPAIN

16,03%

PORTUGAL 3,05%

% ENTITIES

- 1.000 2.000 3.000 4.000 5.000 6.000 7.000

MEXICO (3)

EL SALVADOR (4)

COSTA RICA (3)

ARGENTINA (2)

BOLIVIA (2)

BRASIL (6)

CHILE (4)

COLOMBIA (2)

HONDURAS (1)

ECUADOR (1)

PERU (2)

URUGUAY (1)

VENEZUELA (1)

SPAIN (2)

PORTUGAL (1)

6.627

119

41

1.148

14

6.322

3.328

3.481

1

9

114

31

564

4.776

3.445

GUARANTEE IN PORTFOLIO 2015 ($US MILLIONS)

GUANRANTEE PORTFOLIO (2015) ($US Millions)

Highlight Mexico, Brazil, Spain, Chile,

Colombia, Portugal and Argentina

In parentheses () No. schemes or guarantee schemes, these may have guarantee

homogeneous entities In Mexico is not available the data of FINANCIERA RURAL - SAGARPA

PORTFOLIO SMEs 2015

In Mexico is not available the data of FINANCIERA RURAL - SAGARPA

0 200.000 400.000 600.000 800.000 1.000.000 1.200.000 1.400.000

MEXICO (3)

EL SALVADOR (4)

COSTA RICA (3)

ARGENTINA (2)

BOLIVIA (2)

BRASIL (6)

CHILE (4)

COLOMBIA (2)

HONDURAS (1)

ECUADOR (1)

PERU (2)

URUGUAY (1)

VENEZUELA (1)

SPAIN (2)

PORTUGAL (1)

254.632

64.089

4.410

23.042

3.156

567.683

217.705

1.397.377 602

4.266

13.893

2.779

9.151

128.336

49.393

Highlight Colombia and Brazil, Mexico,

Chile, Spain, Portugal and El Salvador

CREDIT IN PORTFOLIO (2015) ($US Millions)

Source: own elaboration

0 2.000 4.000 6.000 8.000 10.000 12.000 14.000 16.000

MEXICO (3)

EL SALVADOR (4)

COSTA RICA (3)

ARGENTINA (2)

BOLIVIA (2)

BRASIL (6)

CHILE (4)

COLOMBIA (2)

HONDURAS (1)

ECUADOR (1)

PERU (2)

URUGUAY (1)

VENEZUELA (1)

SPAIN (2)

PORTUGAL (1)

14.034

114

117

1.163

30

8.692

4.720

5.286

2

18

471

66

62

4.325

7.253

CTO. IN PORTFOLIO 2015 ($US MILLIONS)

According to credit

in portfolio highlight

Mexico, Brazil,

Portugal, Colombia,

Chile and Spain

GUARANTEE IN PORTFOLIO/ GDP(2015)

In Mexico is not available the data of FINANCIERA RURAL - SAGARPA

0,0000 0,0020 0,0040 0,0060 0,0080 0,0100 0,0120 0,0140 0,0160

MEXICO (3)

EL SALVADOR (4)

COSTA RICA (3)

ARGENTINA (2)

BOLIVIA (2)

BRASIL (6)

CHILE (4)

COLOMBIA (2)

HONDURAS (1)

ECUADOR (1)

PERU (2)

URUGUAY (1)

VENEZUELA (1)

ESPAÑA (2)

PORTUGAL (1)

0,0047

0,0044

0,0007

0,0022

0,0004

0,0023

0,0101

0,0080

0,0000

0,0001

0,0004

0,0006

0,0016

0,0033

0,0153

Highlight Portugal, Chile, Colombia,

Mexico, El Salvador, Spain, Brazil and

Argentina

ANNUAL PRODUCTION (GUARANTEE/YEAR) (2015) ($US

Millions)

In Mexico is not available the data of FINANCIERA RURAL - SAGARPA

- 1.000.000 2.000.000 3.000.000 4.000.000 5.000.000 6.000.000

MEXICO (3)

EL SALVADOR (4)

COSTA RICA (3)

ARGENTINA (2)

BOLIVIA (2)

BRASIL (6)

CHILE (4)

COLOMBIA (2)

HONDURAS (1)

ECUADOR (1)

PERU (2)

URUGUAY (1)

VENEZUELA (1)

SPAIN (2)

PORTUGAL (1)

5.245.871

79.645

15.172

1.612.899

6.275

3.004.891

2.192.744

2.279.397

602

2.542

312.751

29.503

332.651

1.156.307

1.459.904

Highlight Mexico, Brazil, Colombia, Chile,

Argentina, Portugal and Spain

SMEs ATTENDED DURING THE YEAR 2015

In Mexico is not available the data of FINANCIERA RURAL - SAGARPA

0 100.000 200.000 300.000 400.000 500.000 600.000

MEXICO (3)

EL SALVADOR (4)

COSTA RICA (3)

ARGENTINA (2)

BOLIVIA (2)

BRASIL (6)

CHILE (4)

COLOMBIA (2)

HONDURAS (1)

ECUADOR (1)

PERU (2)

URUGUAY (1)

VENEZUELA (1)

SPAIN (2)

PORTUGAL (1)

148.433

32.815

1.399

13.749

1.118

203.468

91.501

590.791

602

29

18.758

1.527

3.990

20.796

19.652

Highlight Colombia, Brazil, Mexico,

Colombia, Chile, El Salvador, Spain and

Portugal

Future important growths and developments.

-Major expansion and high % of growth

-Impact assessment

Continuity of the important role of the

State in the implementation and development,

coexisting with private participation which

is growing and expanding in relevant.

Guarantee program with an important

boost to CGSs.

It involves methods of capitalization and

specific operational profiles.

Implementation of regulatory frameworks

And quality and efficient suervision.

Integration of the financial system.

Scoring and weighting of guarantees

and national counter-guarantees in the

mitigation of own resources and provisions

for IFI’S and CGSs.

Consolidation of iniciatives by multiraleral

Orgamins of supranational counter-guarantee.

•Supranationals: extension of experiences

such as FLAG, CAF, CII, FG MERCOSUR

• Nationals: FOGAPE , FG Brazil, FOGAPYME, etc

TRENDS PERSPECTIVES

TRENDS AND PERSPECTIVES

© REGAR

Latin American Forum on guarantee systems and financing SMEs of REGAR

Since 1998 one of the most important milestones have been holding 17 annual Ibero-American

Forum uninterrupted, jointly with the counterpart of the respective local authorities and

institutional sponsors ALIDE, SELA program IBERPYME, IBERAVAL, SGR and SPGM

promoting the exchange of experiences, dissemination best practices and mutual

understanding between the authorities of Ibero-American guarantees.

XVIII Ibero-American Forum guarantee systems

Rio de Janeiro, 25-27 September , 2013

http://forobrasil.redegarantias.com/

XIX Ibero-American Forum guarantee systems

17-19 September 2014, Valladolid – Madrid (Spain)

8 moderators, 40 speakers, 500 participants from 22 countries, of which

international 135 with 365 national representatives systems, public and

private guarantees, and other authorities from Latin America. This year,

in addition to three panels we have developed four working groups

which involved the intervention of 4 moderators and about 25 panelists

from different geographical areas.

http://forospain.redegarantias.com/

XX Ibero-American Forum guarantee systems

24-25 de septemberde 2015, Lima (Perú)

In the six panels of the XX Forum they have intervened 7 moderators, 35 exhibitors, 3 lecturers, 300

accredited participants from 19 countries, of which 160 international with 140 national representatives

guarantees systems and other related institutions public and private Latin American. This year, in addition

to the six panels, they have developed three workshops which has involved the intervention to 10

moderators and 20 panelists from different geographical areas.

© REGAR

Publications

© REGAR

In 2008 it was published the publication "The Ibero-American Guarantee Systems : Experiences and Recent Developments", coordinated and directed by REGAR with ALIDE, which is an update of all guarantee schemes operating in 2008 realized by its own protagonists, Iberoamerican guarantees entities. This publication has a total of 491 pages, with 28 articles from authors of Iberoamerican guarantees schemes.

Under the XIX Ibero-American Forum of Guarantee Systems held on 18 and 19 September 2014, under the slogan "assurance systems face the challenge of growth and internationalization" in Valladolid and Madrid (Spain) was presented and I handed the I electronic edition of "guarantees Coletâneas 2014" publication made in that collaboration framework REGAR - SEBRAE. This 264-page publication contains a collection of 19 articles of which 15 are in Latin America and Spain and Portugal 4.

PUBLICACIONES

By way of observatory, anually is elaborated a statistics of systems (and schemes) of Ibero-american guarantee system for general and sectorial information.

In each Iberoamerican Forum is realized a call of publications "guarantees and financing", whose work is published on the web REGAR. Among the contents of the Web REGAR there is one specific to proporcionate those publications related to the guarantees of special interest.

Since 2014 he has been dedicated in a specific forum to try to encourage publications guarantees systems in the scientific and academic workshop.

© REGAR

ENLACE REGAR

www.redegarantias.com

© REGAR

“WHOEVER DOMINATES THE

GUARANTEE

DOMINATES THE CREDIT" PPOMBO@telefonica.net

"The guarantee is essential to balance and make the necessary adjustments to the imbalances that

regulation, technology and market produce in financing SMEs factor" Matthew Gamser, CEO

Forum Finance SME, Mundial Bank Group, XX Ibero-American forum 2015, Lima (Perú).