Half of global GDP facing double-digit increase in insolvencies

Trade credit insurance company Allianz Trade's latest Global Insolvency Report points to a more severe outlook for the global business landscape, with insolvencies projected to increase by 11% in 2024, which is a steeper rise than previously anticipated, as the global economy grapples with sluggish demand, ongoing geopolitical tensions, and uneven financing conditions. In its global insolvency forecasts in February, the company had been expecting a 9% increase in insolvencies in 2024, followed by a stabilisation in 2025.