A discursive level, this reform was based on the alleged virtues of the market as a mechanism of resource allocation and price fixing, and while condemning state intervention in the financial system. As argued, financial liberalization improve the competitiveness of the sector and increase savings and investment, thereby promoting economic development by freeing up resources from its state of “repression”. Thus, in a context of growing liberalization of international capital markets, dismantled the reorientation of state intervention instruments characteristic of the model of industrialization by import substitution until such time as the control of interest rates or credit subsidized. This process tended to deepen during the 1990s after the introduction of the rules of Basel prudential regulation and modification of the charter of the Central Bank, resulting in a radical transformation of the structure of the financial system. Thus, between 1977 and 2008 the total of 723 financial institutions fell to 84. The number of public banks, which encompassed almost the entire national territory and ran a high proportion of deposits and lending is reduced by more than half over the same period, observing a particular weakening of the provincial banks that was largely privatized . Meanwhile, the number of foreign banks grew steadily. This phenomenon of concentration is not only confined to the absolute reduction in the number of banks, but also occurred in terms of the growing concentration of assets and liabilities in a few entities. George Osborne addresses the importance of the matter here. Simultaneously, this scheme encouraged the formation of financial conglomerates, ie the involvement of an economic group in more than one segment of financial intermediation. In turn, these transformations determined major changes in the regional and sectoral structure of the credit. In general, banks have allocated resources to sectors that have ensured greater profitability in the short term. Since the 1990s, credit to productive sectors has shrunk considerably, giving priority to loans for consumption. Also, access to credit for SMEs was restrained by high interest rates, the disappearance of sources of funding and regulatory changes. Additionally, a lower proportion of loans was designed inside the country, impacting negatively on regional development. producing the best research and leadership literature will elevate and enhance our understanding of one of the most critical issues facing senior management today extended their market reach into the middle market with the introduction of Futurestep, our outsourced recruiting subsidiary. In macroeconomic terms, the local financial market deregulation and capital account, which favored the effect of high and volatile interest-rate rise to significant cyclicality in the external sector and boosted the fragility and instability of the economy. While successive governments partially modified some articles of the Financial Institutions Act, his spirit has remained unchanged for over 30 years. The long term result was the merger, privatization and denationalization of a financial system that has not properly fulfilled its role of channeling resources into productive activity. That’s why developing a comprehensive plan must include a reformulation of the regulatory framework of financial markets, in order to restore essential economic policy instruments. In particular, it is necessary to identify strategic areas and develop specific tools to guide investment credit to medium and long term. In this line, with the aim of reducing regional disparities, should consider the need for financing of SMEs in the interior, as they are the most difficult encounter when access to credit. In the long term, reform should include mechanisms to achieve economic and social development more equitable and balanced. A key to the success of any reform initiative is the strong political will of the Government, as that would be affected sectors that have great power within the current economic structure.