According to a report in today’s Jamaica Observer newspaper, loans to Jamaica’s entertainment sector are up significantly. In fact, according to the report, loans to the entertainment industry jumped by nearly J$1 billion (202%) in a single month to record levels, outpacing all other sectors of Jamaica’s economy.
Commercial banks apparently have never loaned this much to the entertainment sector, with total outstanding entertainment loans now at J$1.48 billion in April this year, compared to J$491 million the previous month. This is based Bank of Jamaica (BOJ) data that was released just this week.
August 16th, 2009 at 9:12 am
Turns out there was an error made by the Bank of Jamaica (BOJ) with the actual numbers that were reported in the Statistical Digest.
The correct figure was $0.48B but the BOJ’s table 12.1 in the April 2009 Statistical Digest incorrectly said $1.48B