The US Export-Import Bank: Time For An Overhaul

Topics:
Import Export
Tags:
Construction,
Finance,
Financial Accounting,
Financial Services,
Institute For International Economics,
Overhaul,
U.S. Congress
Source:
Institute for International Economics

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Overview: The US Export-Import Bank celebrated its 65th birthday in 1999. While congratulations were in order, this venerable institution needs an overhaul. Renewal of the Bank’s charter in 2001 offers Congress an excellent opportunity to go to work. This article offers recommendations based on insights contained in the Institute’s new volume. In addition, with a new legislative mandate and more financial muscle, Ex-Im can fulfill its twin missions. On the one hand, it can reinforce US diplomatic efforts to update the OECD Arrangement to curtail untied aid and bring market windows and interest make up plans fully within the purview of official discipline. On the other hand, it can fill the holes in private trade finance. Both missions will provide welcome support for US exports. Thus, without new authority from Congress, Ex-Im will sink into irrelevance, US exporters will be put at a severe disadvantage in world markets, and the US economy will suffer substantially.

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Format: HTML | Date: Apr 2001 | Pages: 1


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