TFG heard from Robert Meters on the significant role of trade credit insurance in the current economic crisis the global trade is facing.
TFG heard from Dr. Özge TOSUN, legal counsel at Export Credit Bank of TURKEY (Turk Eximbank) on the various surety bond dilemmas in Turkish insurance including the impracticality of expecting Turkish law to govern all overseas contracts.
Under the Export Development Guarantee (EDG), UKEF can provide partial guarantees covering up to 80 per cent of the risk to lenders for a maximum repayment period of up to five years.
As lockdowns became the norm around the globe, governments have had to step in to support their economies due to the substantial downturn in economic activity – breaking stimulus records in the process.
Farmers are losing money regardless of their size, defaulting on existing facilities, and as such financiers are exiting structured commodity finance due to credit and compliance risks.
Collective action by sector players concentrating on continuing education, enabling women’s access to financial markets, and directing women to more value-added businesses can be a solution to remove barriers and promote women in trade.
SMEs need to explore innovative financing options like trade credit insurance as they plan and prepare for the “new normal”.
By leveraging technology for insights, a banker can make well-informed decisions, in compliance with audit and ethics, which are in the best interest of the bank.
Banks, fintechs, and other vendors have a pivotal role to play in this situation to support communities and try to help the economy moving in the short and long term.
Correspondent Banking should in the future reinvent itself to accompany to be an ideal companion to technical assistance and be a key milestone potential ahead for the Africa market.
The value of Trade Finance Programs, which if combined with regulatory and technological innovation, is destined to hasten the closing trade finance gap and bring broader positive economic outcomes for nations.
With China receiving global backlash for alleged mishandling of Covid-19 crisis, resulting in businesses pulling out, can its neighboring counties with the latter’s emerging economies seize the opportunity, or is China irreplaceable?
TFG heard from EXX Africa’s Keri Leicher, on the economic, political and health crisis in Africa caused by Covid-19 pandemic. Keri spoke of Africa’s high level of debt and silent attacks affecting the continent’s security.
Given that nearly 90% of world trade relies on some form of trade financing (trade credit insurance, trade finance or guarantees), it’s important to understand the complexities around financing trade, the various products offered by financiers, and understanding the pitfalls, challenges and use cases for trade credit.
Following warnings to UK government Ministers around exporters being locked out of the Coronavirus Business Interruption Loan Scheme (CBILs) by banks, the UK government has clarified its position.