Global Economy Mostly Back to ‘Normal’ by End of the Year – IACPM News Release
16 April 2020
IACPM Credit Outlook Survey Forecasts Global Economy Will Be Mostly Back to ‘Normal’ By End of the Year; But Significant Number of Respondents Say Not For Another 12 to 18 Months
New York, NY – A majority of IACPM members responding to the Association’s quarterly Credit Outlook Survey believe the world will mostly recover from the effects of the Corona virus and the near shutdown of the global economy by the end of the year. At the same time, a significant minority, 44%, do not expect conditions to be ‘normal’ before the end of June 2021 or even later.
“Virtually every member of the Association has put together multiple forecasts over the last couple of months and, each time, the outlook for corporate debt has gotten worse,” said Som-lok Leung, the Executive Director of the International Association of Credit Portfolio Managers. “One of our members commented that her institution changes its views almost every day and is increasingly questioning its clients’ ability to weather the storm, even with government help.”