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The BRH authorizes credit financial institutions to grant a moratorium on loans for the next 6 months

  • April 3, 2024
  • 3
  • 8

The BRH authorizes credit financial institutions to grant a moratorium on loans for an additional period of six months

The Bank of the Republic of Haiti (BRH), in a circular number 115-5 dated March 28, authorizes financial credit institutions, namely banks, financial development companies, leasing companies, credit card companies, companies approved microfinance institutions and savings and credit cooperatives to be granted to any debtor company which wishes to benefit from it and which meets the eligibility conditions below, a moratorium lasting from April 1 until September 30, 2024.

Consult on our site circular 115-5 relating to the renewal of moratorium measures in favor of debtors of the financial system until September 30, 2024 👉🏾: https://t.co/bjnqY4wHt3 pic.twitter.com/4dMhITuLT3

— BRHHaiti (@BRHHaiti) April 3, 2024

Debtors eligible for this moratorium are those whose loans of any category (commercial loan, consumer loan, housing loan) are classified “Currents” or to “Report by September 30, 2023 and/or unproductive by March 31, 2024.”

The moratorium under this circular automatically leads to an extension of the duration of the loan concerned of up to six (6) months. A beneficiary wishing to maintain the initial duration of his credit can negotiate a restructuring with the financial institution concerned.

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The reference rate calculated by the BRH for this Wednesday, April 3, 2024