Aviation and tourism industries are a worry, especially with an expected slow recovery in travel. FMTNews Virus
SINGAPORE: Singapore’s central bank chief said as much as 20% of the city-state’s economy faces “deep scarring” from the coronavirus pandemic.
“What is going to happen to that industry when the planes haven’t flown, the pilots haven’t flown for months on a stretch?” said Menon. “It’s not like picking up after taking two months off. When you take two years off, it’s very different.” Menon said he’s aware of the risks of prolonging support, but the key is to taper the exit without pulling the rug out too suddenly.
“What I’ve not heard, and I think people are beginning to talk about, is whether you need to raise new capital,” he said. “It’s not going to be easy in a time like this.”
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