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Singapore's financial sector agile and 'resilient' amid Covid-19: MAS's Ravi Menon

Felicia Tan
Felicia Tan6/3/2020 05:32 PM GMT+08  • 2 min read
Singapore's financial sector agile and 'resilient' amid Covid-19: MAS's Ravi Menon
In the same speech, Menon says the financial sector recorded stellar growth in 1Q20. However, he does not expect this good performance to continue in the rest of the year due to the weaker underlying economic activity.
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SINGAPORE (June 3): The financial sector in Singapore has been “remarkably resilient” amid Covid-19, says Ravi Menon, managing director of the Monetary Authority of Singapore (MAS).

The remarks were made in his speech given at the fireside chat at ACI Live Aid: Financial Markets Give Back Zoom Video Conference last Friday (May 29).

In the same speech, Menon says the financial sector recorded stellar growth in 1Q20. However, he does not expect this good performance to continue in the rest of the year due to the weaker underlying economic activity.

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