Search Results

You are looking at 1 - 10 of 24 items for :

  • "export credit exposure" x
Clear All
International Monetary Fund
Export credit agencies (ECAs) have played a critical role in financing for developing countries in recent years, and officially supported export credits have been growing in volume. The current export credit exposure to developing countries and economies in transition has reached almost half a trillion dollars. This paper reviews developments in export credit markets affecting exposure, new commitments, and cover policy for developing countries and economies in transition and discusses three key issues affecting export credit markets: a more widespread involvement of ECAs in project financing transactions, a strong presence of ECAs in the market for investment insurance, and a deepening of the forfeiting market.
International Monetary Fund

I. T otal E xport C redits 2 A. Exposure Total export credit exposure to developing countries and economies in transition increased by 12 percent to US$475 billion at the end of 1995 compared with an average growth rate of 10 percent during 1990–94 ( Chart 1 ). 3 About two thirds of total exposure was due to outstanding export credit commitments—while unrecovered claims accounted for the other one third. Outstanding commitments—including soft loans 4 —increased by 6 percent as higher medium- and long-term commitments more than offset a decline in

Mr. Christopher J. Jarvis, Mr. Balázs Horváth, and Mr. Michael G. Kuhn

agencies to the Berne Union in the final quarter of each year. If an agency is off cover for a country, a value of zero is assigned to that agency: less restrictive cover stances are given higher values, up to a value of 8 for an agency that is open for cover without restrictions. The value assigned to each agency is weighted to reflect the relative importance of that agency for the country concerned. Cover Policy for Major Export Credit Markets The recent experience with the five markets where export credit exposure was highest at end-1993 (Russia and the

International Monetary Fund

study or to reconcile the story told by the agencies with the trends shown in the numbers. For some countries, however, features of the trends shown in the charts are noted or commented on at the end of the country discussion. Chart 3. Algeria, Argentina, Brazil, and Chile: Export Credit Exposure, 1982–86 1 (Exchange rate adjusted stocks; in billions of U.S. dollars) 1 Data do not represent net flows and should be used with caution in the light of explanations provided in Section III and in Appendix II . The concept “exchange rate adjusted stocks” is

International Monetary Fund

. Data as reported by the BIS/OECD, that is, not adjusted for exchange rate movements, are provided in Table 3 . Chart 2. All Developing Countries and Fourteen Country Cases: Export Credit Exposure, 1982–86 1 (Exchange rate adjusted stocks; in billions of U.S. dollars) 1 Data do not represent net flows and should be used with caution in the light of explanations provided in Section III and in Appendix II . The concept “exchange rate adjusted stocks’’ is described at the end of Appendix II . 2 Total commitments, that is, both principal and interest

International Monetary Fund

. Data as reported by the BIS/OECD, that is, not adjusted for exchange rate movements, are provided in Table 3 Chart 2 . All Developing Countries and Fourteen Country Cases: Export Credit Exposure, 1982-86 1 (Exchange rate adjusted stocks; in billions of U.S. dollars) Data do not represent net flows and should be used with caution in the light of explanations provided in Section III and in Appendix II . The concept “exchange rate adjusted stocks” is described at the end of Appendix II . 1 Total commitments, that is, both principal and interest on

International Monetary Fund

Abstract

This paper discusses developments and issues concerning export credits from the perspective of the economic adjustment process of indebted developing countries. This emphasis is consistent with the principle that officially supported export credit—whether it takes the form of direct official credits or insurance and guarantees on privately funded credits—is an instrument of commercial financing for exports and not a means of aid finance. All creditor governments have a broad range of objectives in using the economic instruments at their disposal to help overcome the adjustment problems of heavily indebted countries, with which important bilateral trade relations are being maintained. In support of an expansion in world trade and notwithstanding the competitive element, export credit insurance and guarantees may have a special role in helping to catalyze private credit flows, especially since such a role coincides with the interest of private lenders to shift away from general purpose balance of payments finance to trade and project finance.

International Monetary Fund

Abstract

This study provides information on official financing for developing countries with the focus on low and lower-middle-income countries. It updates the 1995 edition and reviews developments in direct financing by offical and multilateral sources. Topics of interest include external debt sustainability for heavily indebted poor countries; new official financing flows to developing countries; developments in export credits;financing from multilateral institutions; debt restructuring by official bilateral creditors; plus, numerous appendices.

International Monetary Fund

Abstract

This study provides information on official financing for developing countries with the focus on low- and lower-middle-income countries. It updates the 1995 edition and reviews developments in direct financing by official and multilateral sources. Topics of interest include external debt sustainability for heavily indebted poor countries; new official financing flows to developing countries; developments in export credits; financing from multilateral institutions; debt restructuring by official bilateral creditors; plus, numerous appendices.

International Monetary Fund

Front Matter Page Policy Development and Review Department Authorized for distribution by Anthony Boote Contents Summary I. Total Export Credits A. Exposure B. New Commitments II. Financial Performance of Export Credit Agencies III. New Commitments and Cover Policy for Selected Countries IV. Market Developments and Institutional Changes Charts 1. Export Credit Exposure 2. Twenty Main Recipients of Export Credits Among Developing Countries in Trainsition, 1990 and 1995 3. New Commitments: aggregate 4. New Export Credit