BoB keeps hawk-eye on household debts

Friday, August 29, 2014

With household indebtedness feared to be spiraling out of control, the Bank of Botswana (BoB) is keeping a close watch on the trends.

Statistics show that as at May this year, households owed P23.4 billion to commercial banks, rep- resenting 56.3 percent of the total credit.

In a review of the 2014 Monetary Policy Statement released this week, the central bank said the level of household debts is relatively high although default rates are still within satisfactory levels.

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