COVID-19: It's Time To Revisit Financing Agreements

The global pandemic caused by the novel coronavirus (“COVID-19”) is having a chilling impact on the normal day-to-day lives of people worldwide.  The virus has not only created a major public health crisis, but has led to significant disruption and deceleration in several areas of the economy, including the financial markets, manufacturing and supply chains, and global trade.  As of the date of this publication, economic losses due to COVID-19 are continuing to mount, and governments and central banks in the world’s largest economies are implementing stimulus packages, so far collectively exceeding US$7 trillion, to counteract the disruption caused by COVID-19 and stave off a global recession.