- Coface: A world of trade
- Central & Eastern Europe Insolvencies:Good times come to an end
- China Corporate Payment Survey 2018: Payment delays increase despite rapid and robust growth
News & Publications
Coface, the international credit insurer, has launched an online Customised Credit Opinion (CCO) service that will provide companies with information about their business partners. Coface is also offering uninsured collections complementing its CCO services.
Coface forecasts that the recession in 2020 (a 4.4% drop in world GDP) will be stronger than that of 2009. Despite the recovery expected in 2021 (+5.1%) – assuming there is no second wave of the coronavirus pandemic – GDP would remain 2 to 5 points lower in the United States, the eurozone, Japan, and the United Kingdom, when compared to 2019 levels.
In the context of weaker activity in China due to the health crisis, Coface’s latest survey on business payments in China shows a deterioration in payment behaviour in 2019.
66% of surveyed companies reported payment delays. The length of payment delays remained stable at 86 days in 2019. Nevertheless, sectors that have been hit the most by lockdown measures will have to delay payments in order to survive in 2020 and the number of corporate insolvencies should increase.
First quarter shows solid operational performance but is impacted by the initial effects of the COVID-19 crisis04/23/2020
Xavier Durand, Coface CEO, commented: “The coronavirus crisis presents an unprecedented shock for our economies and for the credit insurance industry. First and foremost, I am very proud of our teams’ successful efforts to continue supporting our customers despite the containment measures (...)"