Word Pyramid Two

Word Pyramid One

News Two

Colombian borrow for increasingly longer periods

Today 40 percent of such loans are taken with a term exceeding five years.

The ordinary expense of Colombians every day finances in the longer term , and proof of this is that until the end of 2013 the majority of consumer loans that people asked the banks , 40.5 percent will be paid more five years, while in 2005, only 8.4 percent were agreed to that term .

Last year it was also decided that another important part of those same loans , 39.9 percent would be paid three to five years, which amounts to about 80 percent concentration of consumer loans , other than cards credit , which will be canceled for a longer term , when in 2005 it barely reached 52 percent , according to statistics of the financial system .

While this , at first glance , would have more problem, the Central Bank itself notes that this trend , financial institutions are exposed to greater risk , to the extent that , at any time, the economic situation and debtors can change affecting the quality of the portfolio.

Daniel Castellanos , vice president of the Bankers Association ( Asobancaria ) , notes that it has been a modest increase amidst lower dynamics of consumer credit, which grew very fast in 2012 but was halted last year.

In the same address Gerardo Hernández , financial overseer , who said that while households have increased their credit somehow ( consumer ) and deadlines, it is noteworthy that those loans are being used today for many more activities are delivered before were financed only with microcredit. They are no longer exclusive to recurrent expenditure .

"There is a marginal increase in the time ; monitoring is being done to this phenomenon, but we're hoping to look at what happened in December to see if the situation is worrisome and warrants further action ," the official said.

What reassures the authorities is that this situation occurs at a time when the growth of the consumer portfolio is at sustainable levels. Until November 2013 was 10.1 percent annual real, when a year ago it was around 15 percent, after inflation .

In turn, the ' hanging ' consumer debt rose only 6.54 percent in real terms for the same month, while in November 2012 the rate was 24.6 percent , which in the opinion of Hernandez denotes a substantial improvement the quality of these loans.

Five Inventions

The car (1885): The invention and development of the steam engine had transformed the industry, the economy and society broadly, however, the car made ​​it even more, transforming the lives of many people. Although the idea of ​​a personal vehicle capable of transporting people and existed for a long time, Karl Benz Motorwagen, invented in 1885, is considered the first automobile. The effects it had on society, culture and commerce, are some of the reasons why the automobile is one of the most significant inventions in history.




The Wheel (3500 a.C):In largely the invention of the wheel was responsible for another great historical change: the entrance to the Bronze Age. Since then, the conference has served on a wide variety of technological advances, enabling the invention of all kinds of machines and devices which facilitated the development in various aspects. Today, the wheels are vital to our way of life, being in a myriad of things, from watches to any automobile or aircraft turbines.




The printing press (1440): Until the invention of modern printing, thanks to the invention of the German Johannes Gutenberg between the years 1430 and 1440, books were copied by hand. This finding suggests that it would be strange to see a book for most people. After several experiments Gutenberg succeeded in forming the mold hand, a new technique that allowed him to generate large amounts of easily molded metal. This invention facilitated access to knowledge in an exceptional way, which also allowed the development of new inventions, the proliferation of universities and all kinds of learning on a massive scale.





The computer (1940): Without doubt one of the most important modern inventions. While there is no single person who can truly be considered the inventor of the computer (mechanical computing devices existed in 1800), there are some important names, such as Charles Babbage, Alan Turing, Tommy Flowers Konrad Zuse or between other. However, it was not until early 1940 that the first modern computers were. Today, computers and computer systems are a fundamental part of our lifestyle.

The Internet (1960): Practically not need a description. We started talking about the list of language and communication development of our species to finish with the invention and the most significant tool in these terms. Internet, whose invention in 1960 is commonly attributed to the scientist Lawrence Roberts is the great invention of the present invention, a huge TOOL that connects almost the entire world in a few seconds and that has changed the lives of millions and millions of people worldwide integer.