Short-term export credits move back to government subsidies

(ECA Watch, Ottawa, 31 July 2009) Short-term export credits have generally been deemed "marketable", and therefore under “normal circumstances”, official ECAs are prohibited from supporting short-term cover for exports to OECD and some other countries. However, since the outset of the financial crisis, a significant withdrawal of private actors from the short-term (ST) trade finance market has been experienced in many EU countries and in response, various measures have been taken at national levels to fill the gap.