Your Monday morning coffee briefing from TFG. UK and Indonesia strengthen trade ties launching the Joint Economic and Trade Committee. Global trade could grow 8% as COVID fightback begins and WTO details impact of regulatory barriers, other factors on costs to trade

By the end of 2021, it’s anticipated that LIBOR rates will be discontinued, transitioning to the SONIA or SOFR. But what does this mean for trade finance? ITFA explains

The UK and Indonesia have today (Monday 26) concluded the first round of exploratory trade talks and committed to further strengthening our £3 billion trade and investment links through a… read more →

Your Monday morning coffee briefing from TFG.
FCI reports a drop in global factoring statistics in 2020, linked to a drop in trade volumes due to the pandemic.

The first estimates for the factoring industry worldwide in 2020 have been announced today by the FCI’s Peter Mulroy. Factoring declines were recorded in most regions except Asia Pacific.

Your Monday morning coffee briefing from TFG. The world is emerging from a deep recession, and the recovery is coming faster than expected. With more than 800m vaccines administered globally, activity holding up despite lockdowns and additional fiscal stimulus coming. The IMF expects the global economy to stage a strong recovery, growing by 6.0% this year, with growth of 4.4% in 2022.

Your Monday morning coffee briefing from TFG. The IMF upgraded its growth forecasts for developed countries and said the global recession would have been three times as deep had governments not intervened.

Your Monday morning coffee briefing from TFG. The WTO is forecasting growth in global merchandise trade of 8.0% this year following a contraction of 5.3% in 2020.

Your Monday morning coffee briefing from TFG. A container ship ran aground, blocking the Suez Canal which carries about 12% of global maritime trade. The blockage may take some time to clear, further disrupting global shipping, already beset by high freight costs and delays caused by the pandemic.

We take a dive into the world of Letters of Credit (LCs) and Standby Letters of Credit – some of the essential tools in cross-border trade transactions.