Bank Negara has been quick to respond to the crisis by announcing a moratorium on loans and enhancing financing facilities available under its Funds for SMEs; including an increase in the Special Relief Facility (SRF) to RM5bil and lowering the maximum financing rate to 3.5%.
The Covid-19 pandemic has induced the twin crises of a public health emergency and an economic recession. With Malaysians still living under the conditional movement control order (CMCO), we are enduring an unprecedented period of economic inertia.
This slowdown also threatens to trigger a liquidity crisis as businesses experience severe cash flow constraints.
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