Global Export Credit Volumes Drop in 2020, Ex-Im Says
Total volumes of medium and long-term (MLT) export credit support fell across the world last year, mostly due to the COVID-19 pandemic, the Export-Import Bank of the U.S. said in its 2020 competitiveness report released June 30. Ex-Im said it…
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authorized $1.8 billion in MLT credit financing for U.S. exports in 2020, far behind China’s $18 billion in financing, which led all countries. James Cruse, Ex-Im’s acting vice president, said the bank “showed resilience” during the pandemic. “EXIM is on the pathway back to being a leader in export credit,” he said, “and providing the nature and scale of official MLT export credit needed to give U.S. exporters and U.S. interests a fair shot at trade opportunities in the years ahead.”