Enhancing the insolvency process

FILE PHOTO: A participant stands near a logo of IMF. REUTERS/Johannes P. Christo/File Photo

LAST month, the International Monetary Fund (IMF) officials made an interesting statement concerning corporate debt.

They said that governments around the world ought to beef up their insolvency systems and prepare to restructure or liquidate badly scarred firms as they withdraw the support provided during the height of the Covid-19 crisis, Reuters had reported.