Singapore president considers using past reserves as businesses bleed

"If our public health is at stake and our people’s welfare affected, we need to do the necessary." Halimah Yacob

SINGAPORE: Singapore must consider tapping past reserves to help its people and businesses “bleeding” from the impact of the coronavirus outbreak, President Halimah Yacob said.

“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,” Halimah said in a Facebook post Wednesday.