And apart from doing its part with government spending, the Central Bank will also take measures with commercial banks - giving some ease on bank payments to those whose businesses are at risk of going underwater:
Rt. Hon. Dean Barrow - Prime MinisterÂ
"The time period to classify targeted non- performing loans in affected sectors particularly the accommodations sector will initially be extended from three months to six months. The domestic banks and the credit unions are to provide grace periods for the servicing and or principal components of commercial loans and mortgages as needed. The financial institutions are being encouraged by the bank to refinance loans in affected sectors including downstream service-oriented businesses such as restaurants and of course transportation and distribution firms. As I understand it what we mean to do is not just to have moratoriums on interest and principal repayments but we are actually prepared to advance struggling businesses who will get the reprieve in terms of paying their loans new monies for them to re-capitalize as they go forward once the greatest danger is behind us."
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