The nation's personal bankruptcy filings hit a record high in the first half of the year due to the ongoing economic slowdown and softened bankruptcy rules.As the central bank has made borrowing costs more expensive in a move to fend off rising inflation, debtors find it increasingly hard to repay their loans.
This is largely in line with global central banks' pre-emptive moves to curb inflationary pressures arising from soaring oil prices and excess liquidity.
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The nation's personal bankruptcy filings hit a record high in the first half of the year due to the ongoing economic slowdown and softened bankruptcy rules.
