Official Supported Export Credits Developments and Prospects

Official Supported Export Credits Developments and Prospects

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 1990-03-01

Total Pages: 56

ISBN-13: 1557751390

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This paper presents report on a number of countries in Asia that have made substantial use of agency credits, including the quasi-concessional financing available through mixed credit s. Through their willingness to grant comprehensive relief on a case-by-case basis, official creditors have responded flexibly to the needs of individual countries. The ability of export credit agencies to also provide substantial new financing to rescheduling countries has depended on the strategy of debt subordination achieved through fixing cutoff dates. As to the role of export credits at present, when the debt strategy’s continuing emphasis on new money flows is being supplemented by debt reduction, the debt subordination strategy followed by export credit agencies has left them well positioned to provide necessary new financing for middle-income countries pursuing strong adjustment. In heavily indebted low income countries, whose needs for project finance should most appropriately be met by concessional finance, export credit agencies continue to play an important role in supporting essential short-term credits.


Officially Supported Export Credits; Developments & Prospects, May 1990

Officially Supported Export Credits; Developments & Prospects, May 1990

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 1988-01-01

Total Pages: 60

ISBN-13: 145194263X

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This paper emphasizes on the policy reaction of the agencies and their authorities to countries in various stages of debt-servicing difficulties. Export credit agencies have, over the past few years, been adopting a progressively more open stance. This is true with respect to short-term cover generally and, with respect to medium-term cover, for countries that have rescheduled their debts but are implementing adjustment programs and adhering to Paris Club agreements. Despite the more open stance, the volume of new medium-term credit and cover commitments to developing countries appears to have fallen off sharply over the past two years. Although for some debtors the operative constraint is clearly on the supply of new credits and cover, this is not the general case and, indeed, agencies reported net repayments from some countries for which they were wide open for new business. A number of agencies also considered that a factor behind the decline in both investment and export credits to support that investment could be the terms on which such credits are available.


Officially Supported Export Credits

Officially Supported Export Credits

Author: Mr.Balázs Horváth

Publisher: International Monetary Fund

Published: 1995-12-01

Total Pages: 68

ISBN-13: 9781557754486

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This study discusses the importance of export credits, their recent growth, and the trend toward more extensive reliance by official bilateral creditors on export credits as an instrument of financial support, and raises a number of issues regarding the role and limitations of export credit financing, espeically for economies in transition.


Managing Official Export Credits

Managing Official Export Credits

Author: John E. Ray

Publisher: Peterson Institute

Published: 1995

Total Pages: 348

ISBN-13: 9780881322071

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Drawing on US and international sources Ray traces the development of international rules governing the use of official export credits and makes specific proposals for reducing their cost through enhanced international cooperation. Ray also includes basic documents dealing with export credits and aid-credit competition; these will provide an invaluable reference library for those concerned with export credit policy.


Export Credits

Export Credits

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 1986-01-01

Total Pages: 44

ISBN-13: 1451942524

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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.


Development Financing and Changes in Circumstances

Development Financing and Changes in Circumstances

Author: Bolivar Moura Rocha

Publisher: Routledge

Published: 2016-04-15

Total Pages: 157

ISBN-13: 1317727096

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First published in 1999. This study starts with the reasons underlying that apparent bias of loan agreements to which developing country borrowers were parties and then develops to look at the issue of the potential benefits of having documentation evidencing developing country indebtedness provide for contractual relief for borrowers in case of adverse changes in circumstances.


World Economic Outlook, May 1993

World Economic Outlook, May 1993

Author: International Monetary Fund. Research Dept.

Publisher: International Monetary Fund

Published: 1993-05-30

Total Pages: 218

ISBN-13: 9781557752864

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The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.


World Economic Outlook, January 1993

World Economic Outlook, January 1993

Author: International Monetary Fund. Research Dept.

Publisher: International Monetary Fund

Published: 1992-01-01

Total Pages: 68

ISBN-13: 1451939140

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This paper highlights that the second part of 1992 has been characterized by flagging consumer and business confidence, weaker-than-expected economic activity—especially in Europe and Japan—and considerable tensions in foreign exchange markets. Despite encouraging signs of increased growth in the United States, these developments have cast new doubts on the prospects for recovery in the industrial world after what has already been two years of weak growth or recession in many countries. The persistent currency turbulence since September 1992 and growing tensions over trade have also contributed to increased uncertainty.


World Economic Outlook, October 1992

World Economic Outlook, October 1992

Author: International Monetary Fund. Research Dept.

Publisher: International Monetary Fund

Published: 1992-01-01

Total Pages: 196

ISBN-13: 145194456X

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This paper highlights that world economic activity showed signs of revival in the first half of 1992 as some major economies slowly began to emerge from the cyclical downturns of 1990–91. During the next 12 months, world growth is expected to continue to recover at a moderate pace. Following stagnation in 1991, world output is projected to expand by 1 percent in 1992 and by 3 percent in 1993, close to the average growth rate during the past two decades.


Multilateral Official Debt Rescheduling

Multilateral Official Debt Rescheduling

Author: Mr.Jorge P. Guzmán

Publisher: International Monetary Fund

Published: 1990-09-15

Total Pages: 36

ISBN-13: 9781557752017

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This paper reviews trends in official debt rescheduling and recent experience with debt renegotiations in the face of the persistent problems of heavily indebted developing countries.