Ladies and gentlemen, I wish you a good morning or good afternoon, depending on your time zone. First of all, let me thank the organisers for their kind invitation to participate in this conference.
My presentation will focus on the impact of the COVID-19 crisis on the risks and vulnerabilities of non-financial corporate sector, the role played by policies in tackling these risks and the main challenges ahead. I will illustrate these vulnerabilities and challenges focusing on the Spanish case.
This discussion is very relevant since the activity of the corporate sector has been particularly hit by the crisis and indeed many of the policy measures applied have focused on supporting the viability of firms which, despite being solvent, have seen their liquidity position deteriorate as a consequence of the crisis.
The swift implementation of these policies is being and will continue to be crucial to prevent the temporary shock of the pandemic turning into the closure of many firms and therefore into a permanent loss of productive capacity.
