The OECD has relaxed down payment rules for transactions involving export credit agencies (ECAs) in emerging markets, in the wake of what it calls a “market failure” in the private sector. Under the new rules, the OECD.
Arrangement on Officially Supported Export Credits has slashed the down payment requirement from 15% to 5% for Sovereign borrowers in developing markets, so long as the transaction is guaranteed by a Ministry of Finance or Central bank. The policy, which comes into immediate effect, thereby also increases the maximum amount participating ECAs can officially support from 85% to 95% of the total export contract value.
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