Deep ‘scarring’ from pandemic, MAS’ Menon says

“What is going to happen to that industry when the planes haven’t flown, the pilots haven’t flown for months on a stretch?” said Menon.(pic) “It’s not like picking up after taking two months off. When you take two years off, it’s very different.”

SINGAPORE: Singapore’s central bank chief said as much as 20% of the city-state’s economy faces “deep scarring” from the coronavirus pandemic.

Aviation and tourism industries are a worry, especially with an expected slow recovery in travel, Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), said at a virtual event hosted by the Institute of International Finance on Monday.