Coronavirus has brought on a recorded debt of $1 trillion

It has been recorded that almost all the companies around the world would be taking on a debt of approx $1 trillion in 2020 as they have been trying to increase their finances despite the Coronavirus lapse. There have been numerous unprecedented growths in total global corporate debt jump by 12% to almost $9.3 trillion.
Last year the global economy had seen a sharp rise of 8%, that included mergers and acquisitions and by all the firms who had been borrowing from companies by fund share buybacks and dividends. The onset of coronavirus has changed the way of life for companies and now companies have started to focus on conserving capital and building a fortified balance sheet.
Most of the lending markets have shut down for most of the trusted firms in March. These firms are now being opened up for emergency corporate debt buying programmes from central banks such as U.S. Federal Reserve, the European Central Bank and the Bank of Japan.