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Hermes |
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Hermes Hermes An export credit guarantee issued by the German state. Hermes covers guarantee payment on certain exports in case the importer defaults. They are used to cover between 2% and 3% of German exports. This allows the exporters to charge lower prices for their products because of the reduced risk. As with all export credit, Hermes is controversial; critics allege that it negatively impacts international development, as developing countries cannot compete with such insured exports. Proponents argue that they enable developing countries to import products they otherwise would not be able to afford. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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