Serious measures to respond to the coronavirus linked economic downturn in the banking industry are yet to be taken. The Government proposed to the commercial banks to voluntarily look into providing relief to their debtors, but few of them have announced such moves so far.
Payments of bank loans should be postponed until at least June 30. The move taken by the Government could help but it’s not mandatory. We need to help households and the economy with a mandatory freeze on payment of bank loans, and additional relief after the crisis is over, professor Darko Lazarov told Sitel TV.
Right now companies and citizens can ask their banks to reprogram their payments, given the dramatic blow to the economy that the entire world is enduring, but this depends on the good will of the bank.