ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Singapore financial system solid amid 'dire' economy: central banker

Monetary Authority's Menon warns recovery will be 'slow and uneven'

Ravi Menon, managing director of the Monetary Authority of Singapore, delivers a speech in 2016.   © Reuters

SINGAPORE (Reuters) -- Singapore's financial system remains robust and resilient even as the economy suffers its most severe downturn due to the coronavirus pandemic, central bank chief Ravi Menon said on Thursday.

Data this week showed that the trade-reliant economy plunged into recession in the second quarter after contracting by a record 41.2%.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more