PM to meet with bankers

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As the impact of the coronavirus pandemic continues to affect the local economy, Prime Minister Gaston Browne, has called for a meeting with the Antigua and Barbuda Bankers Association (ABBA) to discuss continued assistance for homeowners. Saturday on the Browne and Browne Show on Pointe FM, Browne said he has discussed an extension of the
moratorium on mortgages with the Eastern Caribbean Central Bank (ECCB) which has agreed, in principle, to the recommendation.

“I however want to meet with the Antigua and Barbuda Bankers Association this week to discuss an extension of the moratorium for perhaps another six months as there is still significant dislocation in the society,” Browne stated. Browne said a meeting of the Eastern Caribbean Monetary Council would likely be convened in which support for the move will be
sought.

“The Antigua and Barbuda government will not sit on the sidelines, but it is being proactive by trying to arrange a meeting this week with the ABBA. In our case, we want to get our bankers on board so that there will not be any repossession of properties during this critical time,” Browne added. Browne continued that housing is a main pillar of his government in the transfer of wealth to ordinary Antiguans and Barbudans. He said the homes available
from the National Housing Development and the Urban Renewal Company come at a significant saving to buyers. According to Browne, these houses are typically subsidized by the government by $150,000 on average.