Economics
Singapore Regulator, Banks in Talks to Extend Debt Relief
- Extension for worst-hit sectors may be as long as six months
- Current debt relief program is due to expire on Dec. 31
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Singapore’s central bank is in talks with lenders about extending the nation’s debt moratorium program beyond Dec. 31 to provide extra relief for borrowers hit by the fallout from the coronavirus pandemic, according to people with knowledge of the matter.
One of the key measures being discussed by the Monetary Authority of Singapore and local banks is the possibility of lengthening the debt relief program, with industries that have been impacted most by the crisis potentially having aid extended by as many as six months, the people said, asking not to be identified because the talks are confidential.