Tuesday, April 23, 2024

Govt ‘may find it hard’ to get bank funds


Share post:

Government might find it harder to access commercial bank funding after the “very strong and brutal lesson” financial institutions suffered in the domestic debt restructuring programme.

Republic Financial Holdings Limited (RFHL) chairman Ronald Harford made this clear on Thursday, stating that during the debt negotiations, banks were told “if you lend to a country whose debt to GDP exceeds 140 per cent, you can’t be serious about getting back all your money”.

This, he said, was “like an axe that went into the heart of the banks”, and they would “need to be more wise about how we go forward”.

The veteran Caribbean banker was responding to a question during a panel discussion, at the Domestic Financial Institutions Conference, hosted by the Central Bank and the Financial Services Commission. (SC)

Subscribe now to our eNATION edition for the full story.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.


Please enter your comment!
Please enter your name here

Related articles

Broad Street to be paved over Heroes weekend

The Ministry of Transport and Works, through its contractor Infra Construction Inc., will mill and pave Lower Broad...

Death rates up

Barbados’ population is officially in decline as the number of people dying each year surpasses those being born. That...

CDB boss steps down with ‘immediate effect’

BRIDGETOWN – President of the Barbados-based Caribbean Development Bank (CDB), Dr Hyginus ‘Gene’ Leon, has resigned with “immediate...

St Michael man remanded on 14 charges

A 23-year-old St Michael man was remanded to Dodds Prison after appearing in court to answer 14 charges. Raheem...