When microcredit ends up suffocating the family economy: "I couldn't even pay for a coffee"
Last year 3.8 million of these loans were signed, 46% more than in 2024, a solution that experts consider not useful for solving debt problems.
Manuel Carrier, 51, moved from Ecuador to Olot, Girona over 25 years ago and long wanted to be a father. He and his wife spent nearly 16,000 euros on IVF treatments at a private clinic, with the second attempt successful, but they lost their savings and their Ecuadorian bakery business. Struggling financially in Spain, they took out small loans, but couldn't afford the high interest rates. Carrier says he reached a point where he couldn't even afford a coffee.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
