The next day I went early to Chinchero, a town about an hour from Cusco and tried to see what the lending scheme was like there. We found that informal lending wasn't very common. Banks from Urubamba and Cusco have sent representatives to offer loans there, but there aren't any bank offices in the town. Instead, when people need capital for their businesses, they form ROSCAs or lending groups. They all put in a set amount each month (say 10 soles), and one person from the group gets it each month. The pot rotates from person to person. Some groups even pay interest into the pot, so if you got the pot last month, you have to put in an extra 5 soles the following month. At the end of the year, everyone benefits from the accumulated interest. We though this was very interesting, but because they don't have actual moneylenders there, we probably don't need to go back.
Mom and Vanessa spent the day seeing the Sacred Valley (Pisaq and Ollantaytambo), and I met up with them in Ollantaytambo. We stayed the night there, then woke up early the next morning to catch the train to Aguas Calientes. From Aguas Calientes, we took a bus up to Machu Picchu. It was gorgeous. We walked around in the ruins in the morning then hiked to the Intipunku (Sun Gate) and the Inca drawbridge after lunch. It was a lot of fun and a really good day.
Mom and Vanessa left this morning for Lima. My research director has been pressuring us to find a new location to do some research, so Heather and I were looking into that today. We're thinking of going down the southern coast, then maybe cutting in to see Puno and Lake Titicaca. We may be traveling for about 3 weeks total, though we're not sure yet.

I guess I am not the only person afraid of you.
ReplyDeleteYou are beautiful but scary.