The Bank releases the 2021 Household Indebtedness Survey Report. Generally, the survey results, which were based on data sourced from banks, microlenders and hire purchase stores through the administration of online questionnaires, suggested minimal risks to financial stability posed by the level of household indebtedness in 2020. Credit was largely extended to the clientele that had the most secure jobs and the quality of the household loan book, for the largest credit provider (banks), was relatively good. To that extent, credit extension remains positive for economic activity and welfare enhancement, albeit costly for some categories. However, the functioning of credit markets was negatively affected by the COVID-19 pandemic as shown by the reluctance to provide credit by banks in 2020. 

The Report is attached below: