Finsac Report to be Available in Six Months


The report from the Financial Sector Adjustment Company (FINSAC) Commission of Enquiry into the collapse of the financial sector is expected to be completed within the next six months.

Minister of Finance and the Public Service, Hon. Audley Shaw, made the disclosure while opening the 2017/18 Budget Debate in the House of Representatives on Thursday (March 9).

The Minister, earlier this year, announced that Cabinet had approved the reappointment of the FINSAC Commissioners in order to complete the report and make recommendations in relation to the findings.

He informed that an allocation of $35.7 million has been made in the budget to undertake the task.

The FINSAC Commission was set up in 2008 to look into the collapse of the financial sector in the 1990s, the operations of FINSAC in relation to delinquent borrowers, and to make appropriate recommendations in order to prevent a recurrence.

JIS Social