8:19 am, Thu September 25, 2014
The Bank of Jamaica has announced that the stock of bad debt in the country’s financial sector has declined. Bad debts, which are loans that have been unpaid for at least 90 days, fell to $23.9 billion at the end of June. That was down 7.4% from June last year. Bad debts now make up 5%of loans in the financial system.Central Bank assets
In the meantime, Central Bank assets among commercial banks exceeded $810 billion at the end of June. Most of the assets are private loans, with loans to government ranking second among banking assets.
At the same time, commercial banks owe $13 billion to other financial institutions in Jamaica.
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Stock of bad debt declines
