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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.Read More
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 crisis
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 (...)"Read More
Due to the current coronavirus (COVID-19) pandemic and its impact on the global economy, it is unlikely that China will be able to achieve its 2020 growth target. Coface forecasts a growth rate of 4% for the Chinese economy in 2020.Read More
Coface clients will discover a fully Optimized version of CofaNet Essentials, the online management tool for credit insurance: a modernized look and feel, optimized for all mobile devices, providing an enriched and customized experience.
This Optimized CofaNet Essentials comes with a new ‘entry-door’, which will bring enhanced capabilities for digital communication with customers: direct login to all Coface applications, targeted news and product documentation in all format (text, audio, video) as well as contact forms.
Turkey Payment Survey 2019: better picture in payment term but companies remain cautions regarding economic prospectsRead More
This was a proud moment for Coface South Africa, recognizing the in-depth work which has been done at Coface on Gender Focus for the last two years. In 2017, Coface launched a worldwide initiative in order to ensure gender diversity, baptised Women to Win. Its aim is to raise awareness of gender balance issues and ensure that female talents are properly leverage at every level of the organisation.Read More
In line with its strategic ambition to grow in promising new markets, Coface is launching its credit insurance offer in Greece. Coface is now able to strengthen its support to Greek businesses, by providing them with its recognised expertise in monitoring the credit-worthiness of millions of companies all over the world, and by protecting their commercial transactions.Read More