Coronavirus could spark a financial crisis, says Singapore minister
International

Coronavirus could spark a financial crisis, says Singapore minister

Agency News

The economic impact of the coronavirus pandemic could cascade from a health catastrophe into a financial crisis, said Singapore's trade minister on Thursday.

He added that the most affected will be the countries those who are struggling to cope. Many countries are now “fiscally challenged,” with few having the headroom to deploy monetary policy as rates are currently so low, Chan Chun Sing, Singapore’s minister for trade and industry, told CNBC.

What we are concerned about is that, if we are not careful, some of the countries might get into a financial crisis beyond a health crisis, beyond an economic crisis,” Chan said.

pennews
www.pennews.net