Reform of the Spanish Export Credit Agency will create more Southern debt

At the end of 2009, the Spanish parliament will vote on reforming the main public mechanisms that generate external debt owed by Southern countries to the Spanish state. The mechanisms that will be affected by the reform are the Development Aid Fund (FAD) and the Spanish Company of Credit Insurance to Exports (CESCE), the Spanish Export Credit Agency. If the reform goes ahead, impoverished countries risk falling further into debt and human rights violations will become more prevalent.