The European Commission has decided to temporarily remove all countries from the list of “marketable risk” countries under the Short-term export-credit insurance Communication. This will make public short-term export credit insurance more widely available in light of the current crisis linked to the coronavirus outbreak. The amendment further expands on the flexibility introduced by the Commission’s State aid Temporary Framework with respect to the possibility by State insurers to provide insurance for short-term export-credit. Export-credits enable foreign buyers of goods and/or services to defer payment. Deferred payment implies credit risk for the seller/exporter, against which they insure themselves, typically with the private insurers (so-called export credit insurance). (Source: EU Newsroom)
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