(FinFacts Ireland, Dublin, 14 September 2009) Although the sharp contraction in trade flows evident from the second half of 2008 was attributed primarily to a contraction in demand, tighter credit conditions were increasing the cost of trade finance. The response of the G-20 to “ensure availability of at least $250 billion over the next two years to support trade finance through our export credit and investment agencies and through multilateral development banks” was welcomed by WTO Members.
Date
7 September 2009
