Hermes

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Hermes

The trade finance agency for Germany.

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.
References in periodicals archive ?
Prior to Cyllenius, Stack worked at MFS Investment Management from 1993 to 2001.
equity hedge fund, Cyllenius, in the fourth quarter of 2002
The name Cylene is both a reference to Cyllenius, the messenger of the gods in Greek mythology, and a hybrid of the words 'gene' and 'silent'.