The coronavirus crisis will test the sturdiness of small and medium-sized enterprises in the coming months, the Bank for International Settlements said, predicting a wave of debt restructuring, according to AFP.

“The shock of the Covid-19 pandemic has turned out to be a defining moment,” said BIS General Manager Agustin Carstens, as the institution presented its annual economic report.

“The containment measures are inflicting an enormous economic blow, and the long-term effects will be profound.”