According to an announcement from Euler Hermes, global economic growth in 2020 will register a strong slowdown, reaching only +0.5% (+2.5% in 2019). In parallel, international trade will contract this year at -4.5%. As a result, the risk of non-payments will rise significantly. Euler Hermes expects insolvencies to increase by +14% in 2020. In this weak international landscape, numerous countries and sectors will be hit hard.