…relief measures make up 10.8% of total loans in Guyana
The COVID-19 pandemic continues to impact Guyana’s financial sector. As of the end of March 2021, over $28 Billion in Banking relief to businesses in various sectors has been provided, helping to cushion them from the fallout of the pandemic.
According to the Bank of Guyana’s first quarter report, businesses benefitted from a total of $28.8 Billion in banking relief measures as of March 2021, as part of COVID relief. According to the bank in the report, these reliefs were implemented in collaboration with the Guyana Association of Bankers Incorporated.
“The COVID-19 pandemic continues to pose a serious financial stability threat to the banking sector. In this regard, the Bank of Guyana is committed to safeguarding and strengthening the resilience of the local financial sector,” the BoG said in its report, adding that in collaboration with the Guyana Association of Bankers Incorporated, the Bank designed and implemented (these) measures to alleviate hardship caused by the global outbreak.
