Singapore set to fine-tune debt moratorium schemes

Singapore

SINGAPORE will soon calibrate its debt moratorium schemes, with the regulator looking to extend its programmes to certain borrowers beyond Dec 31 this year, while also ensuring that those with the ability to pay should begin repayment before the moratoriums expire, The Business Times understands.

This comes as the regulator had earlier warned of the "cliff effect" on the financial system if the repayment ability of borrowers who chose to take a debt holiday amid the global pandemic is only assessed at the point when the moratorium schemes officially end.