BANKS LIKELY TO EXTEND MORATORIUM ON LOANS

Commercial banks are likely to extend the moratorium on loans.

Discussions took place in cabinet yesterday with the president of the country’s Bankers’ Association, which could result in a 6-month extension of the moratorium on loan repayments.

The current arrangement had been put in place as a result of the fall-out caused by the COVID-19 pandemic. Many individuals have lost their jobs, primarily in the hospitality industry, as global travel plummeted in the wake of the spread of the coronavirus.

More during the ABS Evening News at 7.