Philippine News Agency
Go urges financial institutions to ease policies amid Covid-19
Senator Bong Go urged banks and financial institutions to avoid raising loan interest rates during the enhanced community quarantine to alleviate the financial strain on citizens and businesses.
He emphasized the need for flexible loan restructuring to allow clients to settle their debts at a later date and lower amounts.
Go stressed that both government and private sectors must collaborate to combat the challenges posed by the COVID-19 pandemic and its socio-economic effects.
He called for national unity and collective effort, using the Filipino concept of 'bayanihan' to support each other during the crisis.
Go's appeal aimed to ensure that the economic burden on Filipinos is not exacerbated during the national emergency.
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Senator Christopher Lawrence "Bong" Go commended the Bankers Association of the Philippines (BAP) for their commitment to keep banking services accessible and maintain reasonable lending rates during the enhanced community quarantine.
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The Department of Finance (DOF) released the implementing rules and regulations (IRR) for the mandatory 30-day loan payment grace period.
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The Securities and Exchange Commission (SEC) is urging all lending and financing companies to implement debt relief measures for borrowers affected by the coronavirus pandemic.
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Senator Bong Go urged the Government Service Insurance System (GSIS) to provide financial relief to its members and pensioners amidst the COVID-19 crisis.
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Senator Christopher "Bong" Go urged the Executive Department to expedite the implementation of the Bayanihan to Heal As One Act, emphasizing its limited three-month duration unless extended by Congress.
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