MP calls on government to press banks on debt relief
Opposition MP Rushton Paray - SUREASH CHOLAI
MP for Mayaro Rushton Paray has said Minister of Finance Colm Imbert should be more aggressive in pressing the banking sector to grant debt relief in light of the negative financial impact of the covid19 pandemic.
In a release, Paray said it is unacceptable for the government-owned First Citizens Bank to be the only large financial institution to commit to loan moratoriums.
“Mr Imbert and Central Bank Governor Dr Alvin Hilaire must publicly speak out on the recalcitrant banks and must privately bring pressure upon them to offer the facility of restructured loans,” he said. “At the same time, they must thank and congratulate the supportive smaller financial institutions, including credit unions.”
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