Credit crunch. If not the simple cause, the reduction in availability of credit has certainly been a very obvious symptom of the current world economic downturn. Right across the market, from banks to credit insurers to reinsurers, the amount of credit has been cut, sometimes dramatically. Right from the start, the UK Government, and in particular ECGD, the UK export credit agency, has looked hard at what could be done to help their exporters. They had many suggestions. On October 20 ECGD announced a letter of credit guarantee scheme to assist UK exporters by boosting the availability of short-term export finance. By December it was fully up and running.
Return to sender? Steve Roberts-Mee Credit Management; Mar 2010; Docstoc pg. 28 Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
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