Insolvencies to rise amid Covid-19 crisis/Hardest hit countries in 2020-2021 include US, Brazil, China/Government intervention mitigates immediate effects of economic shock/Euler Hermes report

摘要

The Covid-19 crisis is expected to produce a record-high increase in insolvencies due to the suddenness and size of the economic shock and its lasting effects, according to a new-study by export credit agency Euler Hermes (Paris/France) titled "Calm before the storm: Covid-19 and the business insolvency time bomb". These lasting effects are said to be criti- cal for companies already displaying fragility prior to the crisis and are most apparent in sectors hardest hit by pandemic containment measures, which include transportation, automotive, non-essential retail, hotels and restaurants.