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International Monetary Fund

Officially supported export credits 6 represent a large share of the external debt of developing countries and economies in transition. In 1996, they accounted for more than 24 percent of total indebtedness of these countries and for 56 percent of their indebtedness to official creditors. In addition, exports covered by Berne Union members—largely through new export credit insurance and guarantees, but also through direct lending—account for about 13 percent of all exports from the countries of Berne Union members, which in turn account for about 80 percent of