Credit insurer: the pandemic causes a brutal wave of bankruptcies in the global economy

By: Trademagazin editor Date: 2020. 05. 14. 11:18

Despite rescue packages in individual countries, the number of bankruptcies is growing at a record rate worldwide, among other things, according to Atradius’ credit insurance analysis.

According to the study, there will be 22 percent more bankruptcies in the eurozone than last year. In addition to the pandemic, the United States is also affected by the effects of the trade war, with 44 percent more companies going bankrupt this year than in the pre-pandemic period. Analysts see Covid-19 pushing the global economy into recession, which will fall by 2.8 percent in 2020 after 2.6 percent growth last year.