Barbados’ main economic engine seems to be sputtering as commercial banks report that a sizeable portion of their non-performing loans are linked to the tourism industry.
A non-performing loan is one that is three months or more in arrears.
And president of the Barbados Bankers’ Association (BBA), Horace Cobham, said yesterday that of all the commercial bank loans that were more than three months behind, 43 per cent were from hotel and tourism clients.
The revelation came during a Barbados Chamber of Commerce and Industry (BCCI) monthly luncheon panel discussion at Hilton Barbados on Is Our Tourism Model Still Working?
Read the full story in today’s DAILY NATION.
Loans strain
Previous article
Next article
Related Articles
UEFA, Concacaf and AFC accuse FIFA of breaking trust
FIFA and its leadership have been accused of breaking trust “through deception” in an open letter issued by...
Youth charged with possession of gun and ammo
Tyrese Antonio Rawlins is scheduled to appear in the District ‘C’ Magistrates’ Court at Oistins, Christ Church, today.
The...
Trashaun dies after cancer battle
Trashaun Atwell has lost his battle with acute myeloid leukaemia.
The 14-year-old was admitted to the Queen Elizabeth Hospital...
VIDEO: Food business at Eagle Hall hit by fire
Fire broke out at a well-known eatery at Eagle Hall, St Michael, this afternoon.
Before the Fire Service...