Covid-19: Banking is imposing 'spreads' above those defined by the Government – AHRESP

“What banks do is demand higher spreads than those that protocols and regulations require,” says the leader of the Portuguese Hotel, Catering and Similar Association (AHRESP) in an interview with Antena 1 and Jornal de Negócios .

According to Ana Jacinto, “the bank requires personal, equity bank guarantees, when the Government has already systematically said that guarantees cannot be demanded” and, in addition, “goes beyond all the response periods” that are fixed so that the credit can reach companies on time.

The general secretary of AHRESP said that the association wrote to all banks to complain about the situation and received only one response, with the indication that it was complying with all the rules.

According to Ana Jacinto, the situation has already been presented to the President of the Republic, Marcelo Rebelo de Sousa, and to the Prime Minister, António Costa.

As for the support given by the Government in the context of the pandemic, the official says that they are “short” and argues that the answer must be “more robust” and that the time for that to happen is coming to an end because, if by the end of the month there is no new package of measures to support the sector, many establishments will have to close.

AHRESP presented a package of 11 measures to the Government and considers that, for the maintenance of jobs, it is essential to make a capital injection to companies.

“If there is no money lost today, it is unemployment benefits tomorrow”, defends Ana Jacinto.

The leader of the association also says that there are still companies that have not yet received payments from the simplified lay-off and defends the continuity of the measure.

As for the decrease in VAT for restaurants, Ana Jacinto emphasizes that, in the past, the measure allowed to hire more people and now it will help to keep those who are employed.

Regarding the balance of the reopening, AHRESP's secretary-general says he was shy and added that if there are no more measures at the end of the month, many companies will choose to close their doors again.


Covid-19: Banking is imposing ‘spreads’ above those defined by the Government – AHRESP appears first in Visão.

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