“Many of our companies, particularly those related to the tourism industry, but more broadly other sectors as well, are bleeding because of disrupted supply chains, rapidly falling demand and tightening cash flows,” President Halimah Yacob said on Facebook.
SINGAPORE (Mar 12): Singapore is considering tapping its national reserves to fund a second economic package to weather the impact of the coronavirus pandemic on businesses and workers, the city-state’s president said.
It would be the first such move to bankroll economic stimulus since 2009, when the global financial crisis rocked the Asian financial hub, although reserves are used selectively for land acquisitions.
