BSP: No mandatory loan moratorium during ECQ

The Bangko Sentral ng Pilipinas (BSP) will not issue a mandatory loan moratorium during the current enhanced community quarantine (ECQ).

Clients are advised to negotiate with their banks for financial relief based on the bank’s financial capability and the client's financing needs.

Metro Manila is under ECQ until August 20, while other neighboring areas are under modified enhanced community quarantine (MECQ) until August 15.

The National Economic and Development Authority estimates that the latest quarantine restrictions will result in weekly production output losses of P150 billion and increase poverty by about 250,000 people.