As of May 31, 2024, the number of bankruptcies in Japan directly related to the impact of the coronavirus disease (COVID-19) amounted to ***** cases in Tokyo Prefecture. In total, around *** thousand business enterprises in the country went bankrupt due to COVID-19.

According to surveys from March and May 2020, roughly ** percent of the Finnish companies estimated that their business faces a significantly higher risk of insolvency because of the coronavirus (COVID-19) outbreak. The share of companies dealing with a possible insolvency risk first was ** percent in March, decreasing to ** percent by June. At the same time, nearly ** percent of the respondents did not report an increased probability of insolvency as of June 2020.

Red Flags for Companies using Sentiment Score

There are multiple companies that are on the verge of bankruptcy due to the ongoing pandemic of COVID-19. But a company going bankrupt doesn't happen overnight. There is a chain of sequence that leads it to Bankruptcy. This chain of sequences is called Red Flags for the company.

Data

The below-given data consists of 1400+ Companies with their sentiment score for each quarter for the past 4 years. Companies with the highest negative sentiment score are assigned a score of -100 and the ones with the highest positive sentiment score are assigned a score of +100. The goal of this exercise is to find the top 100 companies which are consistently having a negative sentiment score for multiple quarters of the year and help us find those early signals for those companies (Red Flags) using Machine Learning algorithms.

Canada Insolvency Statistics: 12-Mth Period Ending: Bankruptcy: Business data was reported at 4,183.000 Unit in Mar 2025. This records a decrease from the previous number of 4,277.000 Unit for Feb 2025. Canada Insolvency Statistics: 12-Mth Period Ending: Bankruptcy: Business data is updated monthly, averaging 3,038.000 Unit from Jan 2011 (Median) to Mar 2025, with 171 observations. The data reached an all-time high of 4,979.000 Unit in Sep 2024 and a record low of 1,887.000 Unit in Sep 2021. Canada Insolvency Statistics: 12-Mth Period Ending: Bankruptcy: Business data remains active status in CEIC and is reported by Office of the Superintendent of Bankruptcy. The data is categorized under Global Database’s Canada – Table CA.O009: Insolvency Statistics: Business. [COVID-19-IMPACT]

About the Dataset

The data set tracks measures that governments have taken to support their financial sector following the spread of the COVID-19 respiratory virus. Policies are classified according five main categories: banking sector, financial markets and institutions, insolvency, liquidity/funding, and payments systems (Level 1 policy). Each category has different sub-categories (Level 2 policy measures described under legend) and a further more granular classification (Level 3 policy measures not reported under Legend).

Disclaimer

This dataset is updated regularly and remains work in progress. As such, it may contain errors and omissions. Where available, we record the date of enforcement/announcement of a specific policy measure (Date), the authority implementing the measure (Authority), the reference to the public source of the announcement (Reference), the termination date (Termination Date), and whether a measure is a modification/extension of an existing measure (Modification of Parent Measure).

Sources

The database is compiled using public information collected by the World Bank and COVID-19 financial response trackers maintained by several entities (e.g., Yale Program on Financial Stability, IDB, IIF, IMF, OECD).

Release Date

04/03/2020

Last Updated

03/19/2021

Authors: Compiled by the Finance, Competitiveness & Innovation Global Practice. For inquiries, please reach out to Erik Feyen (efeijen@worldbank.org), Tatiana Alonso Gispert (talonsogispert@worldbank.org) or Davide Mare (dmare@worldbank.org).

Suggested citations: Alonso Gispert, Tatiana, Erik Feyen, Tatsiana Kliatskova, Davide Salvatore Mare, and Matthias Poser (2020). “COVID-19 Pandemic: A Database of Policy Responses Related to the Financial Sector”, World Bank Finance, Competitiveness, & Innovation Global Practice Feyen, Erik, Tatiana Alonso Gispert, Tatsiana Kliatskova, and Davide Salvatore Mare (2020). “Taking Stock of the Financial Sector Policy Response to COVID-19 Around the World”, World Bank Policy Research Working Papers (9497).

LEGEND (Level 1 and 2 categories)

Level 1 policy measure Level 2 policy measure Banking sector Crisis management Integrity Operational continuity Prudential Support borrowers Financial Markets/NBFI Market functioning NBFI Public debt management Insolvency Amending bankruptcy filing obligations Enhancing tools for out-of-court debt restr. and workouts Other Insolvency Liquidity/funding Asset purchases Liquidity (incl FX)/ELA Policy rate Other Liquidity Payments systems Consumer protection Easing regulatory requirements Promoting and ensuring avail. of dig. paym. mechan. Other Payments

Canada Insolvency Statistics: Bankruptcy: Business: Individual data was reported at 44.000 Unit in Feb 2025. This records a decrease from the previous number of 51.000 Unit for Jan 2025. Canada Insolvency Statistics: Bankruptcy: Business: Individual data is updated monthly, averaging 49.000 Unit from Jan 2018 (Median) to Feb 2025, with 86 observations. The data reached an all-time high of 79.000 Unit in Mar 2019 and a record low of 17.000 Unit in Jul 2021. Canada Insolvency Statistics: Bankruptcy: Business: Individual data remains active status in CEIC and is reported by Office of the Superintendent of Bankruptcy. The data is categorized under Global Database’s Canada – Table CA.O009: Insolvency Statistics: Business. [COVID-19-IMPACT]

Canada Insolvency Statistics: 12-Mth Period Ending: Bankruptcy: Business: Individual data was reported at 647.000 Unit in Feb 2025. This records a decrease from the previous number of 662.000 Unit for Jan 2025. Canada Insolvency Statistics: 12-Mth Period Ending: Bankruptcy: Business: Individual data is updated monthly, averaging 594.500 Unit from Jan 2018 (Median) to Feb 2025, with 86 observations. The data reached an all-time high of 762.000 Unit in Mar 2018 and a record low of 322.000 Unit in Dec 2021. Canada Insolvency Statistics: 12-Mth Period Ending: Bankruptcy: Business: Individual data remains active status in CEIC and is reported by Office of the Superintendent of Bankruptcy. The data is categorized under Global Database’s Canada – Table CA.O009: Insolvency Statistics: Business. [COVID-19-IMPACT]

Canada Insolvency Statistics: Business data was reported at 456.000 Unit in Feb 2025. This records an increase from the previous number of 424.000 Unit for Jan 2025. Canada Insolvency Statistics: Business data is updated monthly, averaging 330.500 Unit from Jan 2011 (Median) to Feb 2025, with 170 observations. The data reached an all-time high of 759.000 Unit in Jan 2024 and a record low of 160.000 Unit in Jul 2021. Canada Insolvency Statistics: Business data remains active status in CEIC and is reported by Office of the Superintendent of Bankruptcy. The data is categorized under Global Database’s Canada – Table CA.O009: Insolvency Statistics: Business. [COVID-19-IMPACT]

As of August 2020, ** percent of the Finnish companies estimated that their business will continue to operate after the following three months despite the coronavirus (COVID-19) situation. Compared to the survey results from March and **********, businesses were more confident about their future prospects. However, around ***** percent of the companies still estimated that there is a risk of going bankrupt. Only *** percent of the respondents said that their business operations will not continue in the future.

Canada Insolvency Statistics: 12-Mth Period Ending: Proposal: Business: Individual data was reported at 634.000 Unit in Feb 2025. This records a decrease from the previous number of 636.000 Unit for Jan 2025. Canada Insolvency Statistics: 12-Mth Period Ending: Proposal: Business: Individual data is updated monthly, averaging 307.500 Unit from Jan 2018 (Median) to Feb 2025, with 86 observations. The data reached an all-time high of 662.000 Unit in Nov 2024 and a record low of 187.000 Unit in May 2021. Canada Insolvency Statistics: 12-Mth Period Ending: Proposal: Business: Individual data remains active status in CEIC and is reported by Office of the Superintendent of Bankruptcy. The data is categorized under Global Database’s Canada – Table CA.O009: Insolvency Statistics: Business. [COVID-19-IMPACT]

Abstract This paper analyzes the economic impact of the COVID-19 pandemic on a small tourism dependent open economy. The lockdown affected both the demand side and the supply side of the economy, as production of goods and services dramatically dropped due to firms’ shutdowns, broken supply chains, or bankruptcies, and aggregate demand diminished due to lower consumer confidence and investment cutbacks, accompanied by a dramatic fall in international tourism demand, in particular due to travel restrictions. We look on these supply and demand changes through the lens of a macroeconomic model of a small open economy, comprising an industrial and a tourism sector. For this purpose, we modify Schubert’s (2013) model by introducing a multiple shock which reflects (i) reduced sectoral productivities due to, e.g., broken supply chains, (ii) a drop in employment due to firms’ lockdowns, and (iii) a sharp decline in international tourism demand. We find that the multiple shock leads to an immediate drop in GDP and a boost of the short-run unemployment rate, followed by a gradual transition back to steady state. The adverse effects on the tourism sector are the more severe the slower international tourism demand reverts to pre-crisis levels, but they do not strongly spill over to the industrial sector. Furthermore, even if international tourism demand recovers quickly, the effects on the industrial sector barely change. The length of the industrial sector’s recovery basically depends on the speed of restoring its sectoral productivity rather than on international tourism demand. The reason for this result can be found in the absorbing effect of the relative price of tourism services in terms of the industrial good.

Canada Insolvency Statistics: Business: Individual data was reported at 99.000 Unit in Feb 2025. This records an increase from the previous number of 88.000 Unit for Jan 2025. Canada Insolvency Statistics: Business: Individual data is updated monthly, averaging 80.000 Unit from Jan 2018 (Median) to Feb 2025, with 86 observations. The data reached an all-time high of 129.000 Unit in Oct 2024 and a record low of 32.000 Unit in Jul 2021. Canada Insolvency Statistics: Business: Individual data remains active status in CEIC and is reported by Office of the Superintendent of Bankruptcy. The data is categorized under Global Database’s Canada – Table CA.O009: Insolvency Statistics: Business. [COVID-19-IMPACT]

Canada Insolvency Statistics: Business: Corporation data was reported at 357.000 Unit in Feb 2025. This records an increase from the previous number of 336.000 Unit for Jan 2025. Canada Insolvency Statistics: Business: Corporation data is updated monthly, averaging 220.000 Unit from Jan 2018 (Median) to Feb 2025, with 86 observations. The data reached an all-time high of 641.000 Unit in Jan 2024 and a record low of 119.000 Unit in Jan 2021. Canada Insolvency Statistics: Business: Corporation data remains active status in CEIC and is reported by Office of the Superintendent of Bankruptcy. The data is categorized under Global Database’s Canada – Table CA.O009: Insolvency Statistics: Business. [COVID-19-IMPACT]

Canada Insolvency Statistics: Proposal: Business data was reported at 117.000 Unit in Feb 2025. This records an increase from the previous number of 100.000 Unit for Jan 2025. Canada Insolvency Statistics: Proposal: Business data is updated monthly, averaging 82.000 Unit from Jan 2011 (Median) to Feb 2025, with 170 observations. The data reached an all-time high of 143.000 Unit in Feb 2024 and a record low of 30.000 Unit in May 2021. Canada Insolvency Statistics: Proposal: Business data remains active status in CEIC and is reported by Office of the Superintendent of Bankruptcy. The data is categorized under Global Database’s Canada – Table CA.O009: Insolvency Statistics: Business. [COVID-19-IMPACT]

this graph was created in code R :

https://www.googleapis.com/download/storage/v1/b/kaggle-user-content/o/inbox%2F16731800%2F378336fa5eb5b0de3b3d80f7cff995c7%2Fgraph1.png?generation=1750621862986539&alt=media" alt=""> https://www.googleapis.com/download/storage/v1/b/kaggle-user-content/o/inbox%2F16731800%2F491e74c100b010adcebc0eda582e9fd0%2Fgraph2.gif?generation=1750621868883817&alt=media" alt=""> https://www.googleapis.com/download/storage/v1/b/kaggle-user-content/o/inbox%2F16731800%2Fe5592ea1311aaebdb9458a8d86b7c93d%2Fgraph3.gif?generation=1750621874438627&alt=media" alt=""> sudden increase in NPLs and bankruptcies poses a significant challenge for the capacity of insolvency systems to resolve bankruptcies in a timely manner. Furthermore, borrowers cannot declare themselves insolvent in countries with nonexistent or limited insolvency mechanisms. Creating or improving formal legal insolvency systems, facilitating out-of-court workouts, tailoring certain rules for small businesses, and promoting debt forgiveness and long-term reputational protection for former debtors, can help avoid the risk of long-term and unresolvable debt distress.

Building on chapter 2 on financial institutions, this chapter looks at the consumers of finance—households and firms—and especially at the insolvency systems countries can use in facilitating an equitable

recovery from the COVID-19 (coronavirus) economic crisis. Those systems—debt enforcement laws and

their institutional framework—are essential to achieving recovery. The reforms highlighted in this chapter, informed by the World Bank’s “Principles for Effective Insolvency and Creditor/Debtor Regimes” and

the “Legislative Guide on Insolvency Law” issued by the United Nations Commission on International

Trade Law (UNCITRAL),1

focus on mechanisms for restructuring or discharging debt.

Effective debt resolution, which these reforms facilitate, can contribute to economic growth and

contain the wider economic impact of business distress. In addition to establishing fairness for debtors

by providing a pathway out of perpetual indebtedness, well-functioning insolvency systems can spur

future innovation and economic growth by freeing up capital for lending to new and productive enterprises. To deliver on this potential, insolvency systems have to find an effective balance between the

need, on the one hand, to address individual instances of overindebtedness and, on the other, to discourage borrowers from engaging in unnecessary risk-taking.

According to a survey carried out in May 2020, *** percent of Colombian retail establishments had to completely shut down most of their outlets due to the economic lockdown imposed as a response to the COVID-19 pandemic. Meanwhile, nearly *** out of ten retail businesses were facing potential bankruptcy. On the other hand, ** percent of business in the retail industry continued their operations, even despite difficulties.

The global economy has been hard hit by the COVID-19 pandemic. Many countries are experiencing a severe and destructive recession. A significant number of firms and businesses have gone bankrupt or been scaled down, and many individuals have lost their jobs. The main goal of this study is to support policy- and decision-makers with additional and real-time information about the labor market flow using Twitter data. We leverage the data to trace and nowcast the unemployment rate of South Africa during the COVID-19 pandemic. First, we create a dataset of unemployment-related tweets using certain keywords. Principal Component Regression (PCR) is then applied to nowcast the unemployment rate using the gathered tweets and their sentiment scores. Numerical results indicate that the volume of the tweets has a positive correlation, and the sentiments of the tweets have a negative correlation with the unemployment rate during and before the COVID-19 pandemic. Moreover, the now-casted unemployment rate using PCR has an outstanding evaluation result with a low Root Mean Square Error (RMSE), Mean Absolute Percentage Error (MAPE), Symmetric MAPE (SMAPE) of 0.921, 0.018, 0.018, respectively and a high R2-score of 0.929.

Canada Insolvency Statistics: Proposal: Business: Corporation data was reported at 62.000 Unit in Feb 2025. This records a decrease from the previous number of 63.000 Unit for Jan 2025. Canada Insolvency Statistics: Proposal: Business: Corporation data is updated monthly, averaging 45.500 Unit from Jan 2018 (Median) to Feb 2025, with 86 observations. The data reached an all-time high of 86.000 Unit in Feb 2024 and a record low of 15.000 Unit in Aug 2021. Canada Insolvency Statistics: Proposal: Business: Corporation data remains active status in CEIC and is reported by Office of the Superintendent of Bankruptcy. The data is categorized under Global Database’s Canada – Table CA.O009: Insolvency Statistics: Business. [COVID-19-IMPACT]

Canada Insolvency Statistics: Proposal: Business: Individual data was reported at 55.000 Unit in Feb 2025. This records an increase from the previous number of 37.000 Unit for Jan 2025. Canada Insolvency Statistics: Proposal: Business: Individual data is updated monthly, averaging 28.000 Unit from Jan 2018 (Median) to Feb 2025, with 86 observations. The data reached an all-time high of 72.000 Unit in Oct 2024 and a record low of 7.000 Unit in May 2021. Canada Insolvency Statistics: Proposal: Business: Individual data remains active status in CEIC and is reported by Office of the Superintendent of Bankruptcy. The data is categorized under Global Database’s Canada – Table CA.O009: Insolvency Statistics: Business. [COVID-19-IMPACT]

Canada Insolvency Statistics: 12-Mth Period Ending: Proposal: Business: Corporation data was reported at 723.000 Unit in Feb 2025. This records a decrease from the previous number of 747.000 Unit for Jan 2025. Canada Insolvency Statistics: 12-Mth Period Ending: Proposal: Business: Corporation data is updated monthly, averaging 588.000 Unit from Jan 2018 (Median) to Feb 2025, with 86 observations. The data reached an all-time high of 762.000 Unit in Sep 2024 and a record low of 298.000 Unit in Oct 2021. Canada Insolvency Statistics: 12-Mth Period Ending: Proposal: Business: Corporation data remains active status in CEIC and is reported by Office of the Superintendent of Bankruptcy. The data is categorized under Global Database’s Canada – Table CA.O009: Insolvency Statistics: Business. [COVID-19-IMPACT]