Businesses in immediate cash crisis caused by the impacts of COVID-19 are taking steps to preserve cash balances by restricting payments to only the most business-critical vendors as contingency plans are mobilised.

Managing treasury and financial market risk has never been as important as it is now, with growing uncertainty in relation to cash flow and liquidity positions. Pro-active and sound treasury and finance risk management over foreign exchange, interest rate and commodity exposures is paramount to protect cash flows, manage liquidity positions and provide boards and senior executives with confidence in decision-making.

Organisations should consider:

  • modelling comprehensive contingency scenarios
  • implementing hibernation strategies with key stakeholder support as a primary contingency option
  • managing liquidity by stabilising cash flows through Hedging FX and Commodity Price Risk
  • if insolvency looks unavoidable, contingency planning to decide the strategy (i.e. administration or liquidation) most likely to protect value for creditors
  • directors should consider their duties in a financially distressed situation.

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