Tuesday, November 3, 2009

Fast rise in global trade

At its meeting in April, the G20 group of nations urged multilateral development banks and export credit agencies to increase support for trade finance, since when its cost has come down.

But they remained uncertain over how much of the contraction in trade was caused by expensive financing.

Robert Zoellick, president of the World Bank, estimates that trade finance caused no more than 10-15 per cent of the fall.

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