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Is the next coronavirus-related crisis looming? Consumer default around the world is about to become major issue

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www.clickorlando.com
clickorlando.com:

There rightfully has been a lot of attention on the staggering unemployment numbers caused by the coronavirus in recent weeks, but in the near future, it might have nothing on the figures for another looming problem related to the pandemic.

With businesses shut down and jobs being lost around the globe, a worldwide consumer credit default crisis is on the horizon, according to Bloomberg.

In a report last month, the Institute of International Finance said households around the world will have $12 trillion more debt than during the run-up to the financial crisis in 2008.

The IIF released a report in January that estimated that total global debt reached an all-time high of close to $253 trillion in third quarter of 2019.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
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Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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