新型冠状病毒

Leader_Covid’s legacy is a corporate debt mountain
FT社评:新冠疫情将导致堆积如山的公司债

Public wealth funds can play a role to ensure economies recover
疫情期间政府通过贷款等措施支持企业,尽管帮助企业渡过难关,但也留下了巨额公司债,这些债务将阻碍复苏。

Governments around the world hope that the imminent arrival of several promising vaccines heralds an end to the coronavirus pandemic. Any economic recovery, however, will be hampered — in some cases seriously — by the very measures politicians have used to sustain companies through the height of the crisis. Support measures, in the form of loans and grants, as well as monetary stimulus have helped to keep businesses alive. While these measures have proven a much-needed lifeline, they mask the grim reality building up: a mountain of corporate debt. Once state support is switched off, many businesses will be unable to bear the debt they took on to survive.

世界各国政府都希望,即将到来的几种有希望的疫苗将预示着新冠大流行的结束。然而,将阻碍(在某些情况下将严重阻碍)任何manbetx20客户端下载 复苏的,恰恰是政客们一直用来支撑企业渡过危机高峰期的那些措施。贷款和拨款等支持措施、以及货币刺激措施,都一直在帮助维持企业的生存。虽然这些措施已被证明是一条急需的生命线,但它们掩盖了正在形成的严峻现实:公司债堆积如山。一旦政府支持被切断,许多企业将无法承担它们为了生存而借入的债务。

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