Global corporate insolvencies are forecast to increase by 26% in 2021
Atradius reports: The widely anticipated rise of business insolvencies did not occur in 2020. Global insolvencies are estimated to have declined by 14% in 2020. This is likely to be followed by a 26% rise of insolvencies in 2021. The increase is expected to take place in all major regions and countries, except Turkey. This upward trend is not surprising, as we expect that the temporary measures that kept insolvencies unusually low in 2020 (insolvency law amendments, fiscal support) are gradually phased out in 2021. The level of bankruptcies at the end of 2021 will be higher in virtually all markets than it was in 2019.