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The Export-Import Bank’s authorization expired: What does this mean for Africa?

Published on July 03, 2015

At midnight on July 1, the Export-Import Bank (Ex-Im)’s authorization expired due to inaction from Congress. The Ex-Im Bank, the official export credit agency of the United States, “fills in the gap for American businesses by equipping them with the financing tools necessary to compete for global sales, and, “because it is backed by the full faith and credit of the United States, Ex-Im assumes credit and country risks that the private sector is unable or unwilling to accept.” In other words, the bank is essential for U.S. companies doing business in emerging markets—which makes it particularly important for Africa. Read more. Source | Brookings