Oman weighs credit risks on Egypt exports

(Times of Oman, Muscat, 21 August 2013) In light of the political instability and current events in Egypt which have affected businesses, export credit agencies  (ECAs) of several countries are exercising considerable caution in providing new cover to their exporters to that country. A number of ECAs have cancelled credit limits to buyers in Egypt as the payment risks have been compounded by political risks which could inhibit buyers to fulfil their payment commitments. In October 2011, ECA Watch reported that Britain was pursuing Egypt for debts of up to £100m that funded the purchase of arms.