Trade volumes and macroeconomic context of 2022 and the ICC Trade Finance Register for 2023 reveal a nuanced interplay of growth and deceleration. In 2022, international goods trade flows reached $23.8 trillion, marking a 10.7% increase from the previous year.
The ICC’s Trade Finance Register has been released, reporting a small increase in default rates across documentary trade and open account products, whilst highlighting still, the low-risk nature of the asset class.
Correspondent banking has played a central role in the global payments system for ages. Yet, the traditional correspondent model has been ailing for the past 20+ years.
Finastra, a global provider of financial software applications and marketplaces, has announced a partnership with CQUR Bank, an international corporate bank. This collaboration is set to advance CQUR Bank’s technology strategy… read more →
Deepesh Patel spoke with Robert Besseling, CEO at Pangea-Risk to explore the current landscape of the Middle East region, shedding light on the opportunities, challenges, and evolving economic prospects in the face of the ongoing events.
Digital trade finance platform Contour has announced its closure, citing insufficient funding from its bank shareholders. Operations will cease on November 30, leaving users a brief window to complete transactions and download essential data.
At ITFA’s 49th Annual International Trade and Forfaiting Conference in Abu Dhabi, TFG’s Deepesh Patel sat down with Gwen Mwaba, Director & Global Head, Trade Finance at African Export-Import Bank (Afreximbank). Their discussion revolved around the pressing issues facing African trade finance and the active role of DFIs in fostering African trade.
Tom Vilsack, the Secretary of Agriculture, revealed that the United States Department of Agriculture (USDA) will allocate $2.3 billion to assist American agricultural producers in sustaining and expanding their market… read more →
In the ever-evolving landscape of international finance, one pressing question looms large: Can Central Bank Digital Currencies (CBDCs) truly transform the realm of cross-border payments?
International trade is vital to the growth of income and the country’s economy. It is, however, not possible to carry out any trade devoid of any risks.
