The deferral of capital payments and interest on credit activities, as well as the deferred payment of public services during the pandemic, has been a subject well analyzed, in terms of its benefits, but also in terms of its unfavorable repercussions, both in the credit institutions and in the national economy. The objective of this article is to analyze the two sides of the deferral of credits and payments in Bolivia. It begins with a conceptual explanation of deferrals of payments, followed by the legal framework that underpins the resolutions and decrees on deferrals in Bolivia. Finally, the characteristics of the reprogramming and refinancing of credit operations are explained, and a brief analysis of the new measures of deferrals of payments in Bolivia during the COVID-19 pandemic is presented. It is catalogued as a descriptive analytical study, the basis of which are the laws, Supreme decrees and Asfi resolutions, relating to the deferrals of credit and payments of the Plurinational State of Bolivia. The results show that Bolivia is the only country in the world that has established eighteen months of postponement of payment of credits; and that while the application of this measure can be a relief for those affected by the total quarantine, it is not for financial intermediation entities and for the nation. It is concluded that the grace period measure will continue to affect the liquidity of the national financial system as it will not have the budgeted Portfolio Recovery flows. Therefore, the application of this measure should not be widespread, but should be aimed at those who really need a credit reprogramming.
