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Finance industry rides to the rescue as Covid-19 crisis deepens; freezes mortgage, SME loan payments

Ng Qi Siang
Ng Qi Siang3/31/2020 06:45 PM GMT+08  • 4 min read
Finance industry rides to the rescue as Covid-19 crisis deepens; freezes mortgage, SME loan payments
“The package of measures they have put together speaks of a financial industry in Singapore that is robust, responsible, and purposeful," says MAS managing director Ravi Menon.
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SINGAPORE (Mar 31): In light of the growing severity of the global Covid-19 pandemic, the Monetary Authority of Singapore (MAS) has teamed up the Singapore finance industry to introduce a package of financial measures to ease the financial burden on SMEs and individuals.

The package comes on the back of a series of stimulus packages introduced by the Ministry of Finance amounting to a total of $54.8 billion to support the flagging Singapore economy in the coming year. All measures implemented are offered on an opt-in basis.


See: Government goes all out in fight against Covid-19, sets aside additional $48 bil in supplementary relief package

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