(Middle East Monitor, London , 5 April 2019) The German Parliament Budget Committee has approved export credit guarantees to secure the sale of six heavy frigates worth €2.3 billion (US$2 billion) to Egypt from ThyssenKrupp Marine Systems. The ships can be supplied with weapons including guided...
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2019/04/30
Country: India, USA
ECAs: Export-Import Bank of the United States
Issue: Aircraft
(Money Control, Mumbai, 8 April 2019) India's' cash-strapped Jet Airways has delayed repayments to global lenders, including Citibank, that funded the purchase of its Boeing 777 planes the Economic Times reported. The repayments, worth over $18 billion, were due at the end of March. The banks...
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2019/04/30
Country: Iran, Iraq
(Financial Times, Riyadh, 4 April 2019) Saudi Arabia is intensifying diplomatic efforts to boost ties with Iraq, as the kingdom aims to strengthen its influence on regional rival Iran’s doorstep. The kingdom’s harsh treatment of Shia clerics sparked demonstrations in Iraq, and many Iraqis...
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2019/04/29
Country: Australia
ECAs: Export Finance and Insurance Corporation
Issue: Common Approaches, OECD, Transparency
(Australian Council for International Development, Canberra, 14 Feb, 2019) ACFID has raised concerns about reform to Australia’s export credit agency - EFIC - as part of the Australian Government’s Pacific ‘step-up’ and is calling for the legislation to be referred to a parliamentary committee...
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2019/04/29
Country: Iran
Issue: Debt
(Financial Tribune, Tehran, 30 April 2019) CEO of the Export Guarantee Fund of Iran says the fund has taken special measures to shield exports from the negative impact of US sanctions. “In light of the new US sanctions and the fact that foreign traders do not receive Iranian bank [export]...
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2019/04/29
(Times of Oman, Muscat, 28 April 2019) Etihad Credit Insurance (ECI), the UAE Federal credit insurance company, was voted in as an observer member of the Berne Union, a renowned global association that represents the global export credit and investment insurance industry. In 2018,Berne Union...
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2019/04/29
Country: South Africa, USA
ECAs: Export-Import Bank of the United States
Issue: Debt
(The Citizen, Johannesburg, 3 April 2019) Moody’s credit opinion issued yesterday on the heels of its recent decision to keep South Africa’s credit rating one level above junk, said elevated government debt and contingent liabilities risks from state-owned enterprises (SOEs), limited government...
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2019/04/29
Country: Australia
ECAs: Export Finance & Insurance Corporation Australia
(ABC, Sydney, 4 April 2019) Hundreds of Australian and New Zealand cattle have died in a Federal Government-backed export deal with Sri Lanka, which local farmers say has left them broke, and in some cases, suicidal. Farmers and animal rights groups, as well as Sri Lanka's own auditor-general,...
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2019/04/29
Country: Canada, Switzerland
ECAs: Export Development Canada
Issue: Corruption
(CBC, Toronto, 3 April 2019) Export Development Canada has hired outside legal counsel to review some of its dealings with SNC-Lavalin. The review comes after a company insider told CBC News the engineering giant secured billions in loans from the Crown agency over the years, some of which he...
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2019/03/30
Issue: Corruption, OECD
(OECD, Paris, 27 March 2019) With the adoption of the revised Recommendation of the Council on Bribery and Officially Supported Export Credits (OECD/...
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2019/03/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Debt
(Global Trade Review, London, 13 March 2019) Excluded from many projects in countries under IMF bailout programmes, UK exporters are calling for a trade and aid link in African infrastructure and a rewrite of OECD guidelines that bind export credit agencies. The support is good but UK exporters...
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2019/03/30
Country: USA
ECAs: Export-Import Bank of the United States
(National Association of Manufacturers, Washington, 8 March 2019) Securing a level playing field internationally [i.e. matching corporate subsidies] is vital to manufacturers in the United States, which already export about half their production, supporting millions of workers across...
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2019/03/30
Country: China
(The East African, Nairobi, 6 March 2019) China will host its second Belt and Road Initiative (BRI) forum later this year, in its push to link the country by sea and land through an infrastructure network with Asia, the Middle East, Africa and Europe. The initiative launched by President Xi in...
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2019/03/30
Issue: End Coal Financing
(Thomson Reuters Foundation, London, 1 March 2019) A torrent of banks and other financiers are shifting their money out of coal as investment risks in it grow. We have only 12 years left to save the planet from devastating climate change, the Intergovernmental Panel on Climate Change warned...
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2019/03/30
Country: USA
ECAs: Export-Import Bank of the United States
Business Wire, Washington, 28 March 2019) Leaders of government, business, and academia will address the 2019 Annual Conference of the Export-Import Bank of the United States (EXIM) that held on Thursday and Friday, March 28-29, 2019, at the Omni Shoreham Hotel in Washington, D.C. The...
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