Prime Minister speaks on loan access hurdles

Prime Minister speaks on loan access hurdles

At the last Central Bank Press Conference, the Governor explained that there is liquidity at the banks for loans to consumers.  The plight of the Belizean public, however, is that the banks are making it difficult to access loans.  Prime Minister John Briceno spoke on this matter today, conceding that the banks are not making it easy for the potential borrowers.

Hon. John Briceño, Prime Minister of Belize: “I do believe in particularly Belize Bank who has merged Scotia Bank with their operations they are the ones that have the most liquidity but they set their policies. I wish they would be a bit more, would be able to loosen up a little bit more to make funding more available or quicker to our citizens because there is a lot of need, a lot of people want to invest, a lot of people want to own their homes but we need to find ways how we can do that. The DFC has been helping with that and we have been changing the cash liquidity ratio of the banks and allowing that a certain portion could be used for certain areas of the economy so like housing and certain investments.”

It was three weeks ago that Governor Kareem Michael announced that liquidity is at a record level but that liquidity is concentrated in largely concentrated in one commercial bank.

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