The Moroccan dirhamis the latest currency to join US Ex-Im Bank’s foreign currency guarantee programme.
Under this programme, Ex-Im will consider guaranteeing commercial bank loans denominated in certain foreign currencies to support foreign purchases of US goods and services. Other currencies approved for the program in recent months are the CFA franc, Russian rouble, Brazilian real, Philippine peso, Mexican peso, Colombian peso, and South African rand. The programme allows foreign buyers of US goods and services to borrow in their own currencies.
As with every other Ex-Im financing, transactions under the foreign currency guarantee programme must offer reasonable assurance of repayment.