Just under $2 billion in loans held by Bahamian credit holders have been deferred as a part of the loan payment deferral schemes implemented by various commercial banks in response to the financial crisis associated with COVID-19, The Central Bank of The Bahamas has reported.

In March, shortly after Prime Minister Dr. Hubert Minnis declared a state of emergency, forcing many businesses to close and furlough employees, the Central Bank brokered deals with lending institutions for a three-month deferral and credit support for borrowers in good standing with their banks whose debt servicing capacity had been adversely impacted by the pandemic.

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