Jamaica’s credit problem

A decade of rising household and corporate borrowing has left Jamaica’s financial system exposed to destabilising shocks, according to a Bank of Jamaica (BOJ) report analysing macro-prudential indicators from 2013 to 2024. While the Government has slashed its own borrowing, families and companies now shoulder heavier financial burdens — sparking fears of a ripple effect if global shocks or rising interest rates hit. But the weight of this debt isn’t just a government problem anymore. Over ...