Export Credit Guarantee

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Export Credit Guarantee

Guarantee from the UK Export Credit Agency.

Export Credit Guarantee

A guarantee of payment made by an export credit agency (ECA). ECAs are government or semi-government agencies that provide guarantees and insurance for exports, and occasionally for imports as well. An export credit guarantee ensures that an exporter receives payment for goods shipped overseas in the event the customer defaults, reducing the risk to the exporter's business and allowing it to keep its prices competitive. The use of export credit guarantees is controversial; critics allege that their existence 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 ?
In 2005, the United States made several changes to both its cotton and export credit guarantee programs in an attempt to bring them into compliance with WTO recommendations; however, Brazil argued that the U.S.
* Export credit guarantee programs. Through the GSM-102 Program and
may have to change the export credit guarantee programs and eliminate restrictions on planting fruit and vegetable crops on program acreage.
United States operated three principal export credit guarantee programs
export credit guarantee programs were consistent with WTO obligations.
Those include an agreement to eliminate all agricultural export subsidies by the end of 2013; an agreement to eliminate food aid that displaces commercial sales and to operate export credit guarantee programs in a manner that covers their costs; and an agreement to classify the United States' counter-cyclical payments as blue box (and thus not subject to reduction commitments).
Export Credit Guarantee Programs. USDA's export credit guarantee programs (GSM-102, GSM-103, and SCGP) underwrite credit extended by private U.S.
Export Credit Guarantee Programs. USDA's export credit guarantee programs (GSM-102, GSM 103, and SCGP) underwrite credit extended by private U.S.
Agricultural Exports Agricultural Export and Food Aid Programs Export Subsidies Export Enhancement Program (EEP) Dairy Export Incentive Program (DEIP) Market Development Programs Market Access Program (MAP) Foreign Market Development Program (FMDP) Export Credit Guarantees Export Credit Guarantee Programs (GSM-102 and GSM-103) Foreign Food Aid P.L.
(7) For information on these programs, see CRS Report IB98006, Agricultural Export and Food Aid Programs; or USDA, Foreign Agricultural Service, "Export Credit Guarantee Programs," at [http://www.fas.usda.gov/excredits/default.htm].
The Administration has more discretion over the implementation of the export credit guarantee program, since it may choose simply not to operate the program or to provide credit only for WTO scheduled commodities.

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