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74 countries are at risk of bankruptcy due to the pandemic

The World Bank warns of the possibility of defaults of the poorest countries of the world due to debts that arose against the background of the pandemic. In 2022, payments on loans and credits taken by a group of 74 states from international financial organizations and individuals will amount to about $35 billion. This is 45% more than they paid last year. Experts attribute the growth in loan ...

EUROPEAN AUTHORITIES ARE CREATING A “ZOMBIE ECONOMY”

... firm Polsinelli, which have compiled the corresponding bankruptcy index, this trend will continue in 2021. At the same time, newly elected President Biden offered to provide additional assistance to American companies to combat the consequences of the pandemic in the amount of $ 1.9 trillion. At the same time, 900 thousand American citizens were included in unemployment statistics last week. In Europe, the evidence over what strategies should be adopted to protect workers in enterprises without making the economy less competitive is controversial. In France, public investment is seen as a way to ensure social stability and prevent massive unemployment. Finance Minister Bruno Le Maire called this strategy a "bringing spirituality to the economy" ...

SPAIN FACES THE WORST ECONOMIC SITUATION IN 120 YEARS

... possible large-scale negative consequences. Throughout the year, the states, balancing between the health of their citizens and the need to maintain the economy, demonstrated different models for solving one common problem. In Spain, in particular, the pandemic hit hard on the economy – through the increased social spending and accumulated debts. In 2020 alone, the kingdom's national debt rose by 20 % and reached the level of 1902. Then the country lost its last colonies and experienced a political crisis. The unconditional ...

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