Impact of the COVID-19 pandemic on the repayment of obligations
The Economic Crisis and Its Unexpected Impact on Debts Undoubtedly, the recent global situation caused not only health problems but also directly triggered a massive economic crisis. Therefore, European governments took several radical measures to prevent destructive structural changes in their economies. Subsequently, states had to take massive loans that now burden their budgets in the long term. For this reason, international organizations constantly seek solutions to mitigate the negative impacts of the crisis on global debt repayment. Payment Deferrals and Their Abuse by Speculators In practice, the state introduced extraordinary legal measures that allowed indebted entities to defer their loan payments. Although many households and companies genuinely needed this … More…


















