Low Demand For Loans
Financial institutions are reporting low demand for loans during the covid 19 pandemic.
General Manager of the St. Patrick’s Cooperative Credit Union Peter Queeley said this has caused the banking system here to be liquid with cash at the moment.
While on Eyes on the Country radio programme, Mr. Queeley explained that the covid-19 pandemic has forced interest rates down, while a lot of persons have lost their jobs.
Meantime, Manager of the Bank of Montserrat Baldwin Taylor says this situation is not unique to Montserrat.
Manager of the Bank of Montserrat, Baldwin Taylor.