1973

Introduction of a credit ceiling of 10% on the expansion of credit to the trade sector (categorized as a non-priority sector)

1976

Continued restraint on the expansion of credit due to inflationary pressures

1979

Removal of overall credit ceiling but credit ceiling to traders maintained

1984

Credit to the priority sectors (sugar and other agricultural interests, export sectors, industries and manufacturers) absorbed more than 50% of the increase in total credit to the private sector

1986

Liberalization of exchange rate controls on current and capital account transactions

1987

Credit to the private sector grew by 18.9% and credit policies made less restrictive to support the current industrial expansion in a non-inflationary environment

1989

Credit to the priority sectors accounted for 64.9% of the overall increase in credit to the private sector

1992

Abolition of credit ceilings to priority sectors

1993

Abolition of credit to non-priority sectors