Moody's Says Many Economies Won’t Recover Until 2022

Moody's says that many economies Won’t recover until 2022. The organization stated that it would be difficult to return to the pre-epidemic.

International credit rating agency Moody's pointed out that the new type of coronavirus (Covid-19) epidemic still poses a significant credit risk for many sectors and countries, and stated that the epidemic has decreased but the coronavirus will not disappear. As a result, the organization explained that it will be difficult for many economies to return to pre-epidemic activity levels until 2022. In the statement made by the international credit rating agency Moody's, it was reminded that in the year since the World Health Organization (WHO) declared the coronavirus epidemic on March 11, 2020, the virus has upended the global economy and brought credit decline with the increase in bonds. It was stated that the coronavirus epidemic still poses significant credit risks for many sectors and countries, and it seems likely that less rating action will take place this year compared to 2020. In the statement made by the organization, it was noted that policy actions will continue to support economic activity and financial markets after the epidemic is stopped.