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Debt ease discussions on
Article by February 27, 2021
As the local financial services sector prepares to consider a possible second moratorium on loans and mortgages for customers dislocated by income losses and jobs due to COVID-19 lockdowns, banks and credit unions are today reporting successes during the first grace period.
The Barbados Bankers’ Association (BBA) and the Barbados Cooperative & Credit Union League (BCCUL) said they were able to meet the requirements of their customers during that first repayment ease.
In March last year when Prime Minister Mia Mottley was concluding debate on the
Estimates of Revenue and Expenditure in Parliament, she announced that commercial banks would be offering a six-month ease on the repayment of loans and mortgages to individuals and businesses whose jobs were in jeopardy as well as businesses affected by the COVID-19 economic downturn.