Due to the Covid-19 pandemic many countries in Sub-Saharan Africa faced severe downturns this year, resulting in an unprecedented regional economic contraction.
The rapid spread of Covid-19 across the globe is taking a heavy economic toll on both advanced and emerging economies. Lockdowns reduce consumption opportunities and create supply-side shocks.
Hong Kong businesses strengthened their credit risk management processes in order to better handle the risk of liquidity constraints due to the pandemic-induced economic crisis.
In the current challenging economic times, it is essential for Chinese businesses focus on strengthening their customer credit risk management and debt collection processes.
Corporate insolvencies are expected to grow 2.4% in 2020, a pronounced acceleration from the 1.4% increase recorded in 2019, largely resulting from the coronavirus outbreak
Insolvencies are rising, and structural weaknesses and the negative impact of sanctions on productivity and investment weigh on the economic expansion.
Political instability remains an issue for the long-term economic growth prospects, while corruption and red tape still hamper the business environment.