Still no repayments this month from CEPRODEL in Nicaragua? I spot-checked a number of their repaying loans and saw none. Some say "Field Partner behind in repayment." We're getting awfully close to the end of the month and their delinquency rate already is over 16%.
Paul
Hey Paul - we posted a recent partner update on CEPRODEL.. have you had a chance to check that out?
Special Notice on CEPRODEL from Kiva Staff on August 24, 2010:CEPRODEL's delinquency rate has been above historical norms recently; as of August 24th, 2010, its delinquency rate on Kiva was at 16.59%. Kiva explored this and related issues through its quarterly financial review process, during which Kiva requests financial statements from its field partners.
An initial investigation has revealed that much of the cause appears to be related to the global economic downturn and its particular effect on Nicaragua. Nicaragua has been hard hit on several fronts in the last year. CEPRODEL has shared that the economic crisis reduced sales for many small businesses, and reduced overseas remittances upon which many borrowers rely for sustenance. In addition, we've heard reports of a sharp fall in the price of beef and pigs; also that Nicaragua was hit by a drought that further hurt agricultural production.
Since CEPRODEL lends heavily in rural areas for agricultural purposes, their borrowers appear to have been especially hard hit by these factors, causing an increase in their delinquency. The organization hopes that things will start to stabilize with the new agricultural cycle in September. However, given this challenging situation, Kiva has felt it necessary to reduce CEPRODEL's risk rating from four to two stars.
Kiva will continue to work closely with CEPRODEL and provide updates as appropriate.
http://www.kiva.org/partners/74 
