Relaxing its country policy, Belgian export credit agency Ducroire/Delcredere (OND) has increased its ceiling for medium-/long-term transactions on Latvia from €140mn-475mn. The country policy does not state any particular condition and the country remains classified in premium category 3 (out of 7).
Up to now, export transactions with Mali with a credit period exceeding one year did not qualify for OND cover unless pertaining to the private sector. Moreover, credit duration was limited to five years. From now on, OND extends these possibilities on a case-by-case basis to transactions with the local public sector while suppressing the maximum risk period. The country ceiling was risen to €90mn, with priority given to small-scale transactions. The country remains within premium category 7 (out of 7).
The ceiling for medium/long-term transactions (credit period exceeding one year) and special transactions on Trinidad and Tobago has been brought from €250mn-530mn. Cover policy for political and commercial risks on the country does not state any special terms and Trinidad and Tobago is classified in premium category 2 (out of 7) for these transactions.
The worsening risk on Jamaica has led OND to lower its ceiling for transactions with a credit period of over one year and special transactions on Jamaica from €450mn-300mn. Last July, the premium category for cover of political and commercial risks relating to these transactions dropped from 5 to 6 (out of 7). OND has, in principle, excluded for several years yet cover for medium-/long-term transactions with the local public sector.
Following the OECD Arrangement, OND has reduced its premiums on Kazakhstan for the insurance of political risks with regard to medium-/long-term export credits (credit periods exceeding one year). Premiums move from category 6 to category 5.
The acceptance policy on Kazakhstan remains unchanged.
OND has conducted its periodic classification review for political risks related to direct investments abroad. It includes on the one hand the risks of expropriation and government action, on the other hand war risk. This review leads to changes for 50 countries.
Changes in risks, as well as premiums, for risks of expropriation and government action:
● Decrease: Azerbaijan (from cat 4 to cat 3), C´te d”Ivoire (7 to 6), Guinea (5 to 4), Indonesia (5 to 4), Israel (3 to 2), Kenya (5 to 4), Mongolia (4 to 3), Nigeria (6 to 5), Panama (3 to 2), Russia (5 to 4), Serbia and Montenegro (5 to 4), Slovakia (3 to 1), Slovenia (3 to 2), South Africa (4 to 3) and Turkey (4 to 3).
● Increase: Bangladesh (5 to 6), Congo (5 to 6), Gabon (3 to 4), Jordan (3 to 4), Oman (2 to 3), Qatar (2 to 3), Senegal (4 to 5), Thailand (2 to 3) and Trinidad and Tobago (2 to 3).
Changes in risks, as well as premiums, for war risk :
● Decrease: Angola (4 to 3), Argentina (3 to 2), C´te d”Ivoire (7 to 6), Israel (5 to 4), Jordan (3 to 2), Kenya (3 to 2), Kuwait (3 to 1), Morocco (3 to 1), Namibia (2 to 1), Paraguay (4 to 3), Russia (4 to 3), Serbia and Montenegro (4 to 3), Turkey (3 to 2), Venezuela (5 to 4), Yemen (3 to 2) and Zimbabwe (7 to 6).
● Increase: Congo (5 to 6), Guyana (1 to 2), Hong Kong (China) (1 to 2), Myanmar (5 to 6), Nicaragua (2 to 3), North Korea (5 to 6), Papua New Guinea (3 to 4), Qatar (2 to 3), Sri Lanka (2 to 3) and Vietnam (2 to 3).
Countries are classified in seven categories reflecting OND’s appreciation of the risks. Category 1 groups countries presenting the lowest risks.