Contagion A Perspective Of A Worldwide Pandemic - amazonia.fiocruz.br

Contagion A Perspective Of A Worldwide Pandemic Video

MANILA, Philippines — The financial industry watchdog is watchful of potential spread of financing risks from one sector to another that can make fixing the damage caused by coronavirus pandemic tougher and more complicated.

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This slow-burn contagion, while yet to happen, has become a possibility because the pandemic rattled the entire economy. For instance, banks saddled with unpaid debts had started avoiding lending to critical sectors like wholesale and retail trade, construction, manufacturing and even to peers in the financial sector.

The lack of access to bank credit, in turn, is raising the specter of bankruptcy on some firms. Another 10 firms have shown signs of future financial woes.

In those companies surveyed, This is happening against the backdrop of dismal corporate earnings that mired the second quarter reporting period. With banks unwilling to lend and balance sheets falling into the red, FSCC noted that firms swamped the bond market to raise funding. The problem is compounded by a slow return of foreign investors to the financial markets, which in turn, deprives companies with a vital source of credit.

For the part of the central bank, which has tried to ensure liquidity remained available by slashing interest rates and bank reserves, Governor Benjamin Diokno, FSCC chair, assured financial market players that they would not be instantly cut off from stimulus should there be a need for an exit. With your meaningful insights, help shape the stories that can shape the country. Sign up now! Philstar Global Corp.

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