Your Monday morning coffee briefing from TFG. The World Health Organization reported a record increase in confirmed COVID-19 cases worldwide. Two-thirds of new cases are occurring in the US, Brazil, India and South Africa. In the UK Boris Johnson announced a further loosening of lockdown restrictions, reopening most remaining leisure facilities and dropping advice that public transport should be used for essential journeys only.
TFG launches latest issue of Trade Finance Talks
The latest issue of Trade Finance Talks ‘Coronavirus & The Fourth Industrial Revolution’ is now available to read! This issue contains: Updates from the Industry Bodies & Associations, digital trade, factoring predictions post-pandemic, negotiable instruments, Covid-19 support from a multilateral development bank perspective, women in trade finance, long and short term trade finance, export and trade credit insurance. Read more →
WTO, ICC and B20 call for action to narrow the growing trade finance gap
The WTO, the ICC and B20 Saudi Arabia issued a joint statement pointing to the diminishing availability of trade finance. Warning that gaps between trade finance supply and demand could seriously impede the ability of trade to support post COVID-19 economic recovery, they are urging private and public-sector actors to work together to address shortages. Read more →
TDB signs $100m funding cooperation agreement with KEXIM
The line of credit aims at enhancing private sector business activity between TDB Member States and the Republic of Korea. The facility will focus on trade and infrastructure, innovation, skills transfer and job creation in high-tech industries and other economic sectors including industry, health care, hospitality, transport, renewable energy and agribusiness. Read more →
The Asian insolvency storm – trade credit insurance overview
As a global recession looms, Asian businesses tighten their credit management processes in a bid to minimise bad debt risks. TFG heard from Atradius on the status of the credit insurance market in Asia and the key initiatives taken in response to Covid-19’s impact on Asian trade. Read more →
Afreximbank disburses $3.55bn to cushion impact of COVID-19
Afreximbank has disbursed a total of $3.55bn to the Egyptian banking sector under its Pandemic Trade Impact Mitigation Facility since March this year. In its bid to strengthen long-term economic prosperity in the region, the Bank has also provided $300m to the National Bank of Egypt to support activities aimed at expanding intra-African trade. Read more →
Emerging markets face ‘unparalleled’ civil unrest, as economic impacts of pandemic unfold
Global risk analysis company Verisk Maplecroft released its latest Civil Unrest Index Projections. The firm identifies 37 countries that will face major spikes in unrest during the second half of this year, driven by a painful post-pandemic economic recovery that will inflame existing public anger with governments. Read more →
Government’s post-transition border plan
The government published its post-transition border plans for goods moving between the GB and EU and provided guidelines for how importers and exporters can prepare for new trade rules. £705m will be spent on preparing England, Scotland and Wales for the new border operating model. Read more →
