Mass corporate defaults US$19T+++ likely

May 5, 2020

" Mass corporate defaults are now in prospect. The IMF estimated last October that debt owed by firms unable to cover interest expenses with earnings — “zombie” companies — could rise to $19tn in a scenario half as severe as the financial crisis. Since the economic outcome of the coronavirus will be far worse than the financial crisis, the carnage will be horrendous."

Just to put US$19Trillion into perspective, The size of the USA economy (GDP) was US$$20.4Trollion is 2018.

 

 

 

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