01936cas a2200229 a 4500 AALejournalIMF021362 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513561820 1018-5941 BD-DhAAL BD-DhAAL Corporate Vulnerabilities in Vietnam and Implications of COVID-19. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (26 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2020/260 Full text available on IMF http://elibrary.imf.org/view/journals/001/2020/260/001.2020.issue-260-en.xml IMF e-Library