Economist says banks in Dominica are very liquid with cash but appear to be still cautious to give loans
Economist Dr Thomson Fontaine says the banks in Dominica are liquid with cash, but they are hesitant to provide loans. He says this appears to be strange, as one of the ways that banks make profits, it is through lending to individuals and enterprises.
Dr. Fontaine added that banks facilitate economic growth, by onlending to individuals through consumer credit facilities, or to businesses, to facilitate expansion.
Fontaine feels that the resistance to provide loans to individuals as shown by the majority of the banks here, does not help in advancing the economy, as these funds which are deposited are considered monies taken out of circulation. However, he acknowledges that banks may be more averse to taking risk, in an economy that is not buoyant or viable.
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