Loans to major sectors down((FP))
Tue, August 14, 2012 - 12:10 AM
.THE MONEY PROBLEMS of Barbados’ key tourism and construction sectors are continuing, with commercial banks having reduced loans and advances to them in recent months.
According to the just-released first issue of the Central Bank of Barbados’ Financial Stability Report (FSR), loans and advances to tourism and construction businesses have fallen “by 2.4 per cent and 8.7 per cent, respectively”.
The report, which covers financial and economic developments late last year and earlier this year, also pointed to some challenges tourism businesses have faced in repaying loans.
“The amount outstanding on two large impaired tourism loans increased by about $4 million since the third quarter of 2011,” the report noted. (TY)Please read the full story in today’s DAILY NATION, or in the eNATION edition.
- Editor's Choice