Washington D.C. - According to the Information Technology and Innovation Foundation, "With Congress in the midst of considering legislation to reauthorize the U.S. Export-Import (Ex-Im) Bank—its current authorization expires and thus must be extended by June 30, 2015—comes fresh evidence reiterating the vital need for the Bank in providing export credit finance support for America’s exporters."
On Friday, June 12 the Bank released its annual Report to the U.S. Congress on Global Export Credit and Competition, which once again demonstrates the emphasis America’s leading competitors place on providing export credit support for their traded-sector enterprises and underlines the risks if Congress does not reauthorize the Bank with alacrity.
As the chart below illustrates, as a share of GDP in particular, a number of countries significantly out-invested the United States in new medium- and long-term export credit assistance in 2014. In fact, as a share of its economy, China invested eight times as much in export credit assistance than the United States did in 2014, while Germany invested six times as much, and France and Italy almost five times as much. In fact, of 10 nations assessed for their 2014 export credit volumes, the United States ranked ninth in export credit intensity.
For the full story: http://www.innovationfiles.org/latest-data-lend-urgency-to-need-for-ex-im-bank-reauthorization/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+InnovationFiles+%28Innovation+Files%29#sthash.DgeajtIe.dpuf
As the chart below illustrates, as a share of GDP in particular, a number of countries significantly out-invested the United States in new medium- and long-term export credit assistance in 2014. In fact, as a share of its economy, China invested eight times as much in export credit assistance than the United States did in 2014, while Germany invested six times as much, and France and Italy almost five times as much. In fact, of 10 nations assessed for their 2014 export credit volumes, the United States ranked ninth in export credit intensity.
For the full story: http://www.innovationfiles.org/latest-data-lend-urgency-to-need-for-ex-im-bank-reauthorization/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+InnovationFiles+%28Innovation+Files%29#sthash.DgeajtIe.dpuf
