Norconsult Telematics

Jobs, News and Information for Jobseekers in the Gulf

Upload Your CV

Go Back


Debt Defaulting Finally Starting to Ease


Middle East : 19 March 2010

Current data is now suggesting that company’s are now beginning to be able to get some control back over their debts and that loan defaulting is starting to return to more manageable levels.

This will undoubtedly mean the return to a greater level of confidence among the business and banking community alike. It is important to remember though that although the situation is easing there will still be a large number of annual  loan defaults for many years to come but instead of there being many this will now be reduced to a small number on a regular basis rather than the crises situation of the last couple of years.

Last November loan defaulting levels peaked and for this year it is estimated that the level will decrease by almost 50% on the previous year.

In the first quarter of 2010 five US Company’s filed for bankruptcy this is down from 19 for the same period last year and Credit Rating Agencies are beginning to feel more optimistic about the future

The situation reached a crises level between the years of 2003 to 2007 when borrowing started to peak at unsustainable levels and this is going to take many years to overcome according to the report.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
Bookmark or share this page:

  • del.icio.us
  • E-mail this story to a friend!
  • LinkedIn
  • StumbleUpon
  • Technorati
  • TwitThis