Narrow Your Choices

Refine By Countries

Refine By Topic

Refine By Series

Refine By Language

  • English (1)

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Browse

You are looking at 1 - 1 of 1 items for :

  • Type: Journal Issue x
  • Money and Monetary Policy x
  • Communicable diseases x
  • Fiscal sector x
  • Finance, Public; Accounting x
  • Financial Economics x
  • Finance and accounting x
  • Business and Economics x
  • Corporate Finance and Governance: Government Policy and Regulation x
  • Industries: Service x
  • Public Economics x
  • Infectious & contagious diseases x
  • IMF Working Papers x
  • Public aspects of medicine x
  • Diseases: Contagious x
  • Refine By Language: English x
Clear All Modify Search
Cover IMF Working Papers
Corporate Vulnerabilities in Vietnam and Implications of COVID-19
Anh Thi Ngoc Nguyen and Ms. Yuanyan S Zhang
The paper uses firm-level data to assess the financial health of the Vietnamese non-financial corporate sector on the eve of pandemic. Our analysis finds that smaller domestic firms were particularly vulnerable even by regional comparison. A sensitivity analysis suggests that the COVID-19 shock will have a substantial impact on firms’ profitability, liquidity and even solvency, particularly in the hardest hit sectors that are dominated by SMEs and account for a sizeable employment share, but large firms are not immune to the crisis. Risks of default can propagate more broadly through upstream and downstream linkages to industries not directly impacted, with stresses potentially translating into an increase in corporate bankruptcies and bank fragility. Policy measures taken in the immediate aftermath of the crisis have helped alleviate liquidity pressures, but the nature of policy support may have to pivot to support the recovery.
Keywords:
Corporate Vulnerability; Debt at risk; ASEAN; Leverage; Profitability; WP; liquidity constraint; solvency condition; FDI firm; balance sheet condition; credit access; COVID-19; enterprise survey; interest payment obligation; service sector firm; Liquidity; Currencies; Financial statements; Services sector; Global