PBOC Official: Coronavirus outbreak has impact on firms' ability to repay bonds but overall effect not huge

Dhwani Mehta FXStreet

The coronavirus outbreak has an impact on firms' ability to repay bonds but the overall effect is not huge, an official at the People’s Bank of China (PBOC) said on Monday.

He added that he still expects bond default risks to decline overall this year.

Meanwhile, Chinese Foreign Ministry spokesman Zhao Lijian said that they are not considering issuing travel advisories for countries such as South Korea and Japan that are reporting an increase in coronavirus cases.

Separately, Afghanistan Health Minister announced the first confirmed case of coronavirus while French Junior Transport Minister said that he sees no need to close France/Italy borders amid growing virus contagion risks.

Coronavirus update: Wuhan pull backs earlier announcement on easing lockdown, risk-off at full steam

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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