Bridgetown.
Barbadians are struggling with mortage payments but they have stopped racking up high credit card debt. This is the view of president of the Barbados Bankers' Association, Horace Cobham.
According to Cobham, the situation was indicative of the deeper financial struggles for Barbadians. Speaking to the media just before the opening of the Financial Institutions Conference On General Financial Sectors Issues and Policies hosted by the Central Bank of Barbados.
Cobham said at the start of the financial crisis, delinquencies in credit cards went up signifcantly for most banks but have come down over time.
"Where delinquency is somewhat worrisome is in the area of mortgage portfolios.Delinquency in mortgage is higher than normal, and it is higher than what we typically would expect. That is because Barbadians cherish their homes and they would do virtually anything to ensure that their debts and obligations for their homes are paid first", Cobham said. 
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