Why credit reporting matters in formulating policy during COVID-19 response and recovery
This blog has been originally posted on the World Bank Blogs website.
Two months from now, about 200 million people will be out of jobs due to the economic effects of the coronavirus (COVID-19). The disruption of supply chains and reduction in demand are impacting businesses’ cash flows and profitability—in some cases permanently. To avert a possible credit freeze, regulators across the globe have introduced unprecedented financial measures, such as moratoria on credit repayments and extension of past-due days. Many have also published directives mandating credit providers to stop reporting negative data.
Authors: PRATIBHA CHHABRA, SHALINI SANKARANARAYANAN, COLLEN MASUNDA.
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