Peru’s National Policy on Financial Inclusion and Its Alignment with Sustainable Development Goal I

Alejandro Ticona Machaca (), Félix Henry Gutiérrez Castillo, Bertelly Turpo Aliaga, Dominga Micaela Cano Ccoa, Roger Yucra Quispe, John Herbert Cahuana Sánchez, Corina Nanci Duran Ttito, Yasser Malaga Yllpa, Lourdes Janet Silva Flores and Paulo César Callupe Cueva
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Alejandro Ticona Machaca: Faculty of Administrative and Human Sciences, Universidad Nacional del Altiplano, Puno 21001, Peru
Félix Henry Gutiérrez Castillo: Faculty of Administrative and Human Sciences, Universidad Nacional del Altiplano, Puno 21001, Peru
Bertelly Turpo Aliaga: Faculty of Administrative and Human Sciences, Universidad Nacional del Altiplano, Puno 21001, Peru
Dominga Micaela Cano Ccoa: Professional School of Public Management and Social Development, Universidad Nacional de Juliaca, Juliaca 21101, Peru
Roger Yucra Quispe: Faculty of Administrative and Human Sciences, Universidad Nacional del Altiplano, Puno 21001, Peru
John Herbert Cahuana Sánchez: Faculty of Business Sciences, Universidad Peruana Unión, Lima 15464, Peru
Corina Nanci Duran Ttito: Faculty of Management and Tourism, Universidad Nacional de San Antonio Abad del Cusco, Cusco 08003, Peru
Yasser Malaga Yllpa: School of Economics, Administrative and Accounting Sciences, Universidad Andina del Cusco, Cusco 08000, Peru
Lourdes Janet Silva Flores: Postgraduate School, Universidad Nacional de San Martin, Tarapoto 22201, Peru
Paulo César Callupe Cueva: Faculty of Administrative Sciences, Universidad Nacional Intercultural de la Selva Central Juan Santos Atahualpa, La Merced 12856, Peru

Sustainability, 2024, vol. 16, issue 10, 1-18

Abstract: This article analyzes the implementation of the National Financial Inclusion Strategy (NFIS) and its alignment with Sustainable Development Goal (SDG) I: Eradicate poverty. Despite the progress achieved, structural gaps persist and substantially limit the NFIS’s contribution to poverty reduction, especially among rural, indigenous, extreme poverty, and other vulnerable groups. The article employs a mixed methods approach combining qualitative and quantitative techniques. On the qualitative side, a hermeneutic documentary analysis of the NFIS and related regulations was carried out, with a critical textual interpretation supported by specialized software. Quantitatively, descriptive statistical techniques were applied to analyze official financial inclusion indicators—methodological integration was achieved through analytical triangulation under a concurrent mixed methods approach. The progress of initiatives under the NFIS was evaluated, identifying limitations such as the digital divide in rural areas, limited financing for Micro and Small Enterprises, gaps in financial education, and growing exposure to digital fraud. Although the NFIS promotes greater access to financial services, it does not explicitly focus on the poorest and most excluded populations. Therefore, it is recommended that the objectives and indicators of the NFIS be reformulated to focus on universal access and effective use of financial services by the population in extreme poverty and chronic exclusion. In addition, a strategic articulation with social protection policies is necessary, as well as promoting culturally relevant microfinance and inclusive finance models, strengthening consumer protection, and consolidating public–private alliances in high-poverty areas. Finally, strong monitoring and accountability are also key.

Keywords: financial inclusion; poverty; financial services; vulnerable populations; public policies (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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