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10/25/2017
Corporate news

All the News

05/01/2017
Country risk and economic studies

Labour shortages in the central and eastern Europe region: an opportunity for households but a threat for local companies

DEVELOPMENTS IN CENTRAL AND EASTERN EUROPE (CEE) LABOUR MARKETS HAVE BEEN BENEFICIAL FOR HOUSEHOLDS.

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04/13/2017
Corporate news

Coface announces the publication of its 2016 Registration Document

The Registration Document of COFACE SA for 2016 (Document de référence 2016 in French) was filed with the French financial markets authority (Autorité des marchés financiers - AMF) on April 12th 201

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04/11/2017
Country risk and economic studies

Infographics : New political risk index for 159 countries

Infographics : New political risk index for 159 countries

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04/11/2017
Country risk and economic studies

Infographics: Sector risk assessments - 1st quarter 2017

Infographics: Sector risk assessments - 1st quarter 2017

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03/30/2017
Country risk and economic studies

Corporate payments improve in China in 2016 but ultra-long overdues are up under financial stress

A survey on corporate credit risk management, to which 1,017 Chinese companies responded, reveals that corporate payments improved in 2016, with only 68% of the respondent companies experiencing overdue payments in 2016 (...)

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03/21/2017
Country risk and economic studies

New Coface Political Risk Index in 159 countries

The widespread rise in the political risk conceals mixed regional dynamics

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03/21/2017
Country risk and economic studies

Country and sector risks worldwide - Business confidence is picking up again, despite persistent political risk

Main economic surprise of early 2017: the rise in business confidence is perceptible, but is not yet generating a positive widespread upturn in country and risk assessments.

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03/14/2017
Country risk and economic studies

RMB depreciation, capital flow measures and new monetary stance: What are the implications for Chinese corporates?

The potential depreciation of the renminbi (RMB), along with the implementation of capital flow measures, are longstanding concerns for China.

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02/08/2017
Corporate news

Coface results at 31 December 2016

“The second half of 2016 marks the beginning of the transformation of Coface. We delivered a net profit of €41.5m in the year, successfully closed the transfer of our French State export guarantees activity, and launched our 3-year strategic plan, Fit to Win, the (...)

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02/03/2017
Corporate news

Coface Group: Executive Committee appointments

As part of the implementation of the three-year strategic Fit-to-Win plan, aimed at positioning Coface as the most agile global credit insurer on the market, changes are to be made to the Group's Executive Committee, effective from 3 April 2017.

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02/03/2017
Country risk and economic studies

First Brazilian Corporate Payment Survey 2016

Payment experience affected by the bleak economic scenario.
75% of interviewed companies received payment extensions requests from their clients;

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01/24/2017
Country risk and economic studies

2017: A year of political and banking risks for emerging countries

Despite the recent economic upturn, uncertainties will continue to dominate the global economic climate this year.

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01/23/2017
Country risk and economic studies

Infographics - 2017: An economic upturn in the face of political risk

Four major risks for 2017 but some positives points...

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01/12/2017
Country risk and economic studies

Poland Payment Survey: Payment delays pervade Polish corporates

Coface’s payment survey confirms that sales on credit are being extensively used by Polish companies. Although credit periods have become common practice, it does not mean that receivables are being paid on time.

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01/02/2017
Corporate news

Coface has transferred French State export guarantees activity to Bpifrance

In line with previous communication, Coface has ceded its State export guarantees activity to the French public investment bank, Bpifrance.

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11/16/2015
Country risk and economic studies

Egypt: slow recovery and structural challenges

Coface forecasts growth of 4.4% for 2015/2016

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06/17/2015
Country risk and economic studies

Is India’s economic revival thanks to the Modi government?

In May 2015, the IMF highlighted India as “one of the bright spots in the global economy”, mainly due to more effective policies and the end of political uncertainty. Coface expects the country’s GDP growth to reach 7.5%. But to what extent have Modi’s reforms contributed to the recent pickup in growth? Are the improvements in the economy without risks?

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05/27/2015
Country risk and economic studies

Business insolvencies in France at the end of April 2015: The numbers continue to slowly improve, at -2.7% on a year

The favourable swing first seen in 2014 continues. The immediate rise in business insolvencies in the first four months was partly due to a catching up after the artificially low year-end data, because of the industrial action within the court system, which has however resurfaced in May.

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05/27/2015
Country risk and economic studies

Infographics: End of Milk Quotas: a new era for the french dairy sector

The dairy market

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05/12/2015
Country risk and economic studies

Morocco: The emerging market challenge

The Moroccan economy demonstrated its resilience during the recent global economic crisis and the “Arab Spring”. In what is an increasingly unstable international environment, Morocco has proven to be highly stable.

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04/15/2015
Country risk and economic studies

Two sectorial assessments updated due to impact of lower oil prices

The recent drop in the price of oil has had knock-on effects for company credit risk around the world. Among the 14 sectors analysed, Coface has identified one big winner and one big loser, with the corresponding assessments revised upwards or downwards.

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03/12/2015
Country risk and economic studies

Corporate overdue payments in China at high levels: 80% of corporates affected in 2014

Slower growth and increase in non-performing loans expected in 2015

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03/05/2015
Country risk and economic studies

Impact of lower international oil prices on Latin America

Latin America is a major producer of commodities and the recent drop in oil prices is impacting the region’s countries in different ways. Which countries could benefit from lower international quotations - and why are others negatively impacted?

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02/02/2015
Corporate news

Julien Marcilly appointed Coface Chief Economist

Julien Marcilly is appointed Chief Economist of Coface, with effect from 2 March 2015, reporting to Jean-Marc Pillu, CEO.

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12/15/2014
Corporate news, Product news

Coface obtains credit insurance license in Morocco and strengthens its leading position in Africa

Present in Morocco since 2007, Coface has now obtained its license for insurance and reinsurance activities from the regulatory authorities.

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12/12/2014
Country risk and economic studies

“Low-flation” in France, the sign of a change in pace of growth

In a context of slow inflation (“low-flation”) and flat growth, France is in danger of not being able to escape the vicious circle of falling prices. Is it possible that France, without going to the extremes of the deep depression of the 1930s in the United States and a number of European countries, could experience a lengthy period of price and growth stagnation, such as happened in Japan between 1990 and 2010? And if so, what would it mean for the French economy and its companies?

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12/12/2014
Country risk and economic studies

Company insolvencies: a limited decrease

The number of company insolvencies over the past 12 months stood at 63,002 companies at the end of October. Coface registered a 0.9% fall over the year.

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11/20/2014
Country risk and economic studies

After the economic crisis, what does the future hold for pharmaceutical companies in Europe?

The pharmaceutical sector’s dependence on the economic situation of European countries proved to be crippling for the industry during the 2008-09 crisis, and once again during the sovereign debt crisis of 2011-12. Particularly weakened by reduced health expenditure in Europe, pharmaceutical companies are now looking to revive, expand into new markets and invest in niche markets to break the deadlock.

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11/20/2014
Country risk and economic studies

Coface quarterly sector risks assessments : 14 sectors in three major regions of the world

North American chemicals, transport, textiles and clothing upgraded from "medium risk" to "low risk"
In North America, sector risk has improved due to the positive economic outlook and the drop in oil prices

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10/29/2014
Corporate news

Results at 30 September 2014: Coface continues to progress on a path of growth and profitability

Coface’s performance is in line with objectives. At the end of these first nine months, the Group has posted satisfactory growth and solid profitability.

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10/24/2014
Country risk and economic studies

Updated country risk assessments

A slow recovery but a recovery nonetheless in the Eurozone, political and financial instability in large emerging countries.

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10/24/2014
Country risk and economic studies

Global trade: a return to pre-crisis levels is unlikely, but the potential for growth exists

Following thirty years of unprecedented expansion, global trade is experiencing a period of radical change.

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09/29/2014
Country risk and economic studies

Carrot-and-stick : Challenges ahead for the Chinese economy

Since the beginning of the year, the Chinese government has continued its efforts to implement various items on the reform agenda, particularly those concerning...

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09/29/2014
Country risk and economic studies

UAE economy grows stronger thanks to effective diversification policy

In its latest country assessment, Coface has ranked the United Arab Emirates (UAE) A3 , and expects the country’s enonomy to grow by around 5 percent in 2014. The business climate in the UAE has also been assessed at A3, taking into account a number of factors such as the availability of company reports, reliability and the effectiveness of the legal system.

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09/17/2014
Country risk and economic studies

European airlines are among the least profitable in the world: what is the adaptation scenario?

At a time when it appears vital to capture the growth potential in Asia, European airlines are stumbling due to aggressive competition from low cost operators and airlines from the Gulf. Currently, they are among the least profitable in the world. Faced with these new constraints, what changes are conceivable?

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09/11/2014
Product news

Launch of CofaMove application: CofaNet goes mobile

Coface now offers customers a mobile application providing access anywhere and at any time to the essential features of Cofanet, its online platform for managing credit insurance contracts.

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09/03/2014
Country risk and economic studies

Romania at the front line of economic growth in 2013 – but will it catch up after the contraction in 2014?

Romania’s economic performance has made it one of the leaders in Europe’s recovery. Its growth has exceeded expectations, with GDP rising by 3.5% in 2013.

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07/29/2014
Corporate news

Results for the first half of 2014: Growth and profitability in line with guidance

Turnover growth of +1.8% on a like-for-like basis

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07/25/2014
Corporate news

Serbia becomes 98th market for Coface’s credit insurance offer

Coface, a world-leading credit insurer, is enriching its offer in Serbia through a local partnership with Axa.

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07/25/2014
Corporate news

launch of TopLiner in Morocco ! Supplemental cover beyond standard credit insurance

Coface Morocco announces the launch of TopLiner, a supplemental credit insurance cover, gradually provided in the framework of the “Globalliance” standard contract if the initial guarantee is less than the request or refused.

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07/21/2014
Corporate news

Coface appoints Nicolas Garcia as Group Commercial Director

Coface has appointed Nicolas Garcia as Group Commercial Director. In this new position, he also becomes a member of the Group Management Board and the Executive Committee.

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07/11/2014
Country risk and economic studies

Downgraded to A4, Brazilian economy gears towards a year of adjustments in 2015

Coface expects a considerable slowdown of GDP in 2014 (at +1.3% in 2014, down from +2.5% in 2013), due to household consumption growing at a slower pace, investments losing momentum and a weak trade balance. Coface considers 2015 to be a turning point, boosting GDP in the medium term.

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07/02/2014
Country risk and economic studies

The Turkish economy - what to expect in 2014?

Prior to the forthcoming presidential elections in August 2014, Coface is cautious in its assessment of corporate risks in Turkey. If political tensions rise again, as happened in December and January, investors may flee the country which could result in a fluctuation in Forex markets. Such a situation would negatively impact the corporate sector’s external debt stock, already at a record high.

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06/12/2014
Country risk and economic studies

Coface notes an improvement in risks in Western Europe and in "new" emerging economies

The first quarter of 2014 confirmed the acceleration in global growth: according to Coface's forecasts, after 2.6% in 2013, growth will be close to 3% in 2014 and 3.3% in 2015.

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06/12/2014
Country risk and economic studies

The UK upgraded to A2 due to the strength of its recovery

Affected in 2009 by a recession more intense than other European countries under the effect of a sharp drop in household consumption and investment, the British economy is currently distinguished by the strength of renewed growth (1.8% in 2013). Forecast at +2.7% in 2014 by Coface, it could be as dynamic as that of the United States and exceed Germany (2%).

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06/05/2014
Country risk and economic studies

Stabilisation of corporate overdue payments in Asia Pacific but new worries over slowing growth in China

According to the Coface survey of credit risk management in Asia Pacific , corporate payment experience in the region stabilized overall in 2013, with the exception of companies in Australia and China which saw a greater number of non-payments. Slowing growth in China remains a concern for corporates in other economies in the region in 2014.

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05/26/2014
Country risk and economic studies

Coface forecasts a 13% drop in SME insolvencies in Spain and stabilisation in France in 2014

SMEs are over-represented in insolvencies in France and still more so in Spain

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05/19/2014
Corporate news

WITH COFACE, TRADE IN TOTAL CONFIDENCE

Watch the video to see why choosing Coface ensures peace of mind, whatever the circumstances.

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04/29/2014
Country risk and economic studies

Insolvencies in Central and Eastern Europe 2013: New peak with 70,000 companies affected

Companies in the CEE region faced a challenging year in 2013: The already weak economic situation deteriorated and household consumption decreased due to fiscal measures designed to tackle rising budget deficits. Access to credit was further constrained in line with reduced supply and demand for new loans.

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04/15/2014
Country risk and economic studies

New paradigm for the electronics industry in Asia: clear dynamism, increased risks

Emerging Asia is the new epicentre of electronics innovation. Local companies are now counting on the internalisation of production and research. However, the dynamism of the sector faces new risks, as the gradual rise in unpaid invoices. In 2013, close to 3 out of 4 companies in the electronics & IT sector in Asia-Pacific experienced overdue payments.

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04/15/2014
Country risk and economic studies

Coface quarterly credit risks survey: 14 sectors in three major regions of the world

Sector risk stabilising in North America and Europe but becoming a source of concern in emerging Asia

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03/25/2014
Country risk and economic studies

Coface identifies 10 emerging countries hot on the heels of the BRICS

After 10 years of frenetic growth, the BRICS are slowing down sharply: for 2014, Coface forecasts growth of on average 3.2 points lower than the average growth these countries registered over the previous decade. At the same time, other emerging countries are accelerating their development. Among them, a ‘top 10’ emerges with good production prospects and sufficient financing to support expansion.

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03/25/2014
Country risk and economic studies

Country risk assessments : United States one of best risks whilst major emerging economies struggle

The upturn in the advanced economies (1.9% forecast for 2014, after 1.2% in 2013) is reflected in the upwards revision of the country risk assessments for the United Kingdom and the United States, which join the best risk category.

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03/06/2014
Country risk and economic studies

CHINA SEES HIGHEST LEVEL OF CORPORATE OVERDUE PAYMENTS SINCE 2010

Coface’s survey of corporate credit risk management in China,carried out in the fourth quarter of 2013, revealed that 8 out of 10 companies in China experienced overdue payments in 2013.

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03/04/2014
Corporate news

2013 ANNUAL RESULTS

Good commercial dynamics and improvement in loss ratio

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02/10/2014
Corporate news

Coface, the leading credit insurer in Latin America, launches a direct offering in Colombia

The Group now operates directly in 9 of the region’s countries

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01/27/2014
Country risk and economic studies

VIDEOS: FIND ALL COFACE COUNTRY RISK CONFERENCE SPEECHES AND DEBATES

The 18th edition of the Coface Country Risk Conference was held January 21, 2014 at the CNIT La Défense.Videos are now available on Youtube group channel.

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01/21/2014
Country risk and economic studies

Country Risk Conference 2014: Press release

In 2014, favourable risk trend in advanced economies but persistent tensions in large emerging countries.

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11/05/2013
Country risk and economic studies, Country Risk and Economic Studies

Coface CEE Top 500: Top companies with increasing turnover but sharply declining profits

Poland again ranked first, Hungary and Romania catching up while Ukraine dropping out of the Top 3

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10/16/2013
Corporate news, Corporate news

Appointments at Coface

Cyrille Charbonnel, the former Group Chief Operating Officer, has been appointed Western Europe Region Manager

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10/14/2013
Country risk and economic studies

Coface is optimistic about business risks in the United States and concerned about those of emerging countries such as Brazil and Thailand

Revised Country Risk assessments. Overall, advanced economies are doing better. The concerns come from the emerging countries, which are facing a structural decline in growth.

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10/14/2013
Country risk and economic studies

Emerging Asia : Coface warns of growing risks linked to household debt

The growth potential in Asia remains high, driven by the middle class. Malaysia, South Korea, Singapore and Thailand: household debt similar to that of the United States at the time of the subprime crisis.

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09/26/2013
Country risk and economic studies

Coface Quarterly "Panorama Sectors"

Coface downgrades its credit risk assessment in three business sectors: chemicals, pharmaceuticals and automotive
The unique indicator , developed by Coface economists and based on the payment experience of companies recorded by its underwriters, sends an alarm signal to three of the fourteen business sectors analysed.

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04/18/2013
Country risk and economic studies

The gap between Europe and the rest of the world is widening

Credit risks still high in Europe but the outlook is favourable in Emerging Asia and in North America.

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03/28/2013
Corporate news

Antonio Marchitelli joins Coface as new Mediterranean and African Region Manager

Antonio Marchitelli has been appointed Mediterranean and African Region Manager of Coface, effective from March 1st 2013.

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01/22/2013
Corporate news, Country risk and economic studies

The crisis in Europe

Based on its day-to-day contact with companies worldwide, Coface has issued a cautious scenario for the global economy in 2013.

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01/21/2013
Corporate news

A new identity and a new tagline for Coface

The reflect a successful strategic refocusing.

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01/17/2013
Country risk and economic studies

First Coface "Panorama Sectors": Two-thirds of business sectors to carry risks

A new quarterly publication of Coface, focuses on the sector risks in the world. The world economy is analysed by means of 14 business sectors in three large regions: emerging Asia, North America and the European Union. The analysis uses three original indicators – strength of turnover, financial robustness and credit risk – developed by Coface economists and drawn from the payment experience of companies observed and analysed by Coface underwriters.

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10/22/2012
Country risk and economic studies

Coface offers top tips to UK businesses trading in Africa

‘Be prepared’ is the message for UK businesses who want to profit from the excellent trading opportunities in Africa says Coface, the experts in analysing trade credit risk. As Coface announced it was strengthening its own presence on the continent, the company offered advice to businesses who want to expand into one of the fastest-growing regions in the world.

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08/29/2012
Country risk and economic studies

Promise in Morocco for UK exporters but business challenges remain says Coface

Morocco represents a great opportunity for exporters because of its relative economic stability and the social reforms under way but payment delays are still long, according to Coface, the global credit management specialists, who have just published a detailed report on the country’s business climate.

Grant Williams, Risk Underwriting Director of Coface in the UK and Ireland explains: “Morocco’s potential is recognised by UK businesses as the country is already one of the UK’s Top 50 export markets and exports from the UK to Morocco approached £500 million in 2011.

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06/07/2012
Corporate news

Richard Burton is appointed Manager of the Asia Pacific Platform

He held the position of Deputy Manager up until he took over from Jean-Claude Speitel who retired at the end of May.

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01/30/2012
Country risk and economic studies

The construction sector: persistent credit risk in most countries

The situation of companies in the construction sector closely reflects the world, regional and national economic trends. At a time when the world economy is characterized by divergences between countries, with a recession in the euro zone, there are significant disparities between countries and sub sectors. The construction sector was badly hit by the 2009 crisis, and a large number of payment incidents were still occurring in 2011.

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