Introduction:
The coronavirus pandemic has triggered unprecedented challenges for the global economy, leaving a trail of disruptions in its wake. As the world grapples with the ongoing crisis, Euler Hermes, a leading credit insurance company, has been closely monitoring the economic fallout and providing insights into the potential implications for businesses worldwide. In this article, we delve into the various aspects of Euler Hermes' analysis and reports on the impact of COVID-19 on world trade, insolvencies, risk management, and the global economy.
CALM BEFORE THE STORM: COVID-19 AND THE GLOBAL ECONOMY
The outbreak of the COVID-19 pandemic has sent shockwaves through the global economy, disrupting supply chains, dampening consumer demand, and leading to widespread uncertainty. Euler Hermes has warned that the pandemic is likely to trigger a deep recession in world trade and the global economy, with far-reaching consequences for businesses across industries. The company's experts have highlighted the need for proactive risk management and strategic planning to navigate the challenging business environment brought about by the crisis.
The insolvency time bomb: prepare for a record wave of bankruptcies
As businesses face unprecedented challenges in the wake of the pandemic, Euler Hermes has raised concerns about a potential surge in insolvencies. The economic downturn, supply chain disruptions, and financial strains on companies are creating a perfect storm that could lead to a record wave of bankruptcies. In response to these challenges, Euler Hermes has emphasized the importance of effective risk mitigation strategies and financial planning to weather the storm and emerge stronger on the other side.
Allianz Euler Hermes Survey: CFOs Rethinking Risk Amid Uncertainty
In a survey conducted in collaboration with Allianz, Euler Hermes has shed light on how CFOs and financial decision-makers are reevaluating their risk management practices in light of the pandemic. The findings highlight the shift towards a more cautious approach to risk, with companies focusing on enhancing liquidity, diversifying supply chains, and strengthening relationships with key stakeholders. The survey underscores the importance of adaptability and resilience in the face of unprecedented challenges.
Global Insolvency Report 2021: We’ll be back
Despite the bleak economic outlook brought about by the pandemic, Euler Hermes remains optimistic about the prospects for recovery. The company's Global Insolvency Report for 2021 suggests that while insolvencies are expected to rise in the short term, there is hope for a gradual improvement as economic conditions stabilize. Euler Hermes' insights into the evolving insolvency landscape provide valuable guidance for businesses looking to navigate the uncertainties of the post-pandemic world.
Report Finds A Strong Economic Recovery Relies on Risk Management
A key takeaway from Euler Hermes' analysis is the importance of robust risk management practices in ensuring a strong economic recovery. The company's reports emphasize the need for businesses to proactively assess and mitigate risks, from supply chain disruptions to financial vulnerabilities. By prioritizing risk management, companies can position themselves for sustained growth and resilience in the face of future uncertainties.
Survey: After Covid
Looking ahead, Euler Hermes' surveys and reports offer valuable insights into the post-pandemic landscape and the challenges and opportunities that lie ahead. By analyzing trends, risks, and opportunities, the company provides businesses with the tools and knowledge needed to navigate the evolving economic environment and thrive in the new normal. The survey results underscore the importance of agility, innovation, and strategic planning in building a resilient and sustainable business in a post-COVID world.
World facing bankruptcy time bomb – study
Euler Hermes' research highlights the looming threat of a bankruptcy time bomb facing the world economy. The combined impact of the pandemic, economic downturn, and financial strains on businesses has created a volatile environment where bankruptcy risks are heightened. By staying informed and proactive in managing risks, businesses can mitigate the impact of the looming crisis and position themselves for long-term success.
Global Supply Chain Survey
The disruptions caused by the pandemic have exposed vulnerabilities in global supply chains, prompting companies to rethink their sourcing strategies and risk management practices. Euler Hermes' Global Supply Chain Survey offers valuable insights into the changing dynamics of supply chain management and the need for greater resilience and agility in the face of future disruptions. By leveraging these insights, businesses can optimize their supply chains and adapt to the evolving market conditions.
Euler Hermes announces key changes in their Board of Directors
In response to the evolving economic landscape and the challenges brought about by the pandemic, Euler Hermes has announced key changes in its Board of Directors. These strategic moves reflect the company's commitment to driving innovation, enhancing risk management capabilities, and strengthening its position as a market leader in credit insurance and risk mitigation. The changes signal a proactive approach to addressing the challenges and opportunities presented by the current crisis.
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