It has been late in paying several foreign debts, including one to Britain's Export Credit Guarantee Department.
The new policy means that the government will remove export credit guarantees to a total of 63 nations.
His previous post was as chief executive of Canada's export credit agency.
Forty nations are already covered by the ban on export credit guarantees.
The company has tapped billions of dollars in financing from the export credit agencies of Brazil and Canada to purchase hundreds of aircraft made in those countries.
FORBES: Delta Assault On Ex-Im Bank Misleads Congress, Undermines Boeing
The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities.
Mr Brown said that banning export credit guarantees for "unproductive expenditure" was an important step towards eradicating Third World poverty and urged other industrialised nations to follow suit.
On the other hand, failure to keep up with the export credit activities of key competitors could have decidedly negative consequences for the U.S. trade balance and the economy.
FORBES: Congressional Inaction On Ex-Im Bank Blunts Export Push
Second, if Ex-Im Bank fails to provide assistance to those in need, the export credit agencies of other countries will step in to help sell rival products, destroying many thousands of U.S. jobs.
FORBES: Congressional Inaction On Ex-Im Bank Blunts Export Push
The government's export credit agency, the Export Credits Guarantee Department (ECGD), will launch an Export Working Capital Scheme, a Bond Support Scheme, and will support banks offering foreign exchange hedging contracts to SMEs by sharing credit risk.
Priorities have been FTAs, intellectual property rights protection, export credit financing, technology release -- which you haven't commented on, but you've made some progress on -- and business and tourist visa processes -- and you know the list.
"In today's world commercial banks, especially from Europe and the U.S., have pretty much shut up shop so our strategy has been going towards financing from export credit agencies, " referring to typically state-backed institutions set up to provide reliable export financing.
In 1991 it stopped providing short-term export-credit guarantees, spinning off the business to what is now the privately owned Atradius.
That is because European, South Korean and Japanese yards are able to offer easy financing terms thanks, among other things, to government export-credit guarantees.
Mr Hashimoto outlined a few measures to alleviate regional distress cheaper soft loans for infrastructure projects, a big export-credit insurance facility, and training in Japan for 20, 000 South-East Asians.
The company is also talking to the export-credit agencies of countries that supply it with equipment (such as the United States) or that might import its oil (such as China).
The foreign debts represent only 6% of total bank assets and the effect on these liabilities is mitigated by the dollar assets banks create with this funding through export-credit financing.
The only problem is that current law precludes the extension of Commodity Credit Corporation agricultural export credits unless there is a reasonable prospect of repayment.
The difference in lending may be due in part to the fact that bigger banks tend to have a client base that itself is bigger, more credit worthy and more export oriented.
WSJ: HEARD ON THE STREET: Banking Whales Leave Minnows Behind
The line-up this year: Credit and housing markets, export growth, health care, tax policy, infrastructure, alternative energy and improving economic statistics.
FORBES: White House Report Says Economy Will Rebound In 2008
Under the terms of this side letter, however, the United States agrees not to collect on the Lend-Lease debt until the U.S. government makes available to the Soviet Union export credits, guarantees and insurance through the U.S. Export-Import Bank and other government credit facilities!
CENTERFORSECURITYPOLICY: The U.S.-Soviet Trade Agreement: Overtaken By Events
That leaves the Mittelstand, the mid-sized firms that are the backbone of Germany's export-driven economy, most exposed to a credit squeeze.
Privately owned export-oriented factories have closed, the fresh credit has tended to go into speculative investments, and infrastructure spending takes time to ramp up.
Growing exports to friendly nations through loans that are repaid is an eminently sensible public policy, one we should continue through a reauthorized Export-Import Bank with a larger line of credit.
CENTERFORSECURITYPOLICY: Fund But Verify the Export-Import Bank
The German export association BGA has warned of a "massive credit squeeze" by late summer while Business Europe, the region's main business lobby, told the European Central Bank that bank lending desperately needs to be improved.
Countries including France, New Zealand and Sweden offered additional programs such as tax exemptions and deferments, credit mediation, business advice programs or various export guarantees.
The President of the Export-Import Bank, in consultation with other members of the Export Promotion Cabinet, shall take steps to increase the availability of credit to SMEs.
WHITEHOUSE: Executive Order 13534 - National Export Initiative
Unisys, which makes high-power computer systems for banks and credit card companies, is already anticipating a hassle with export authorities when Intel's Itanium chip debuts later this year.
We heard from Boeing CEO Jim McNerney about the 22, 000 small business suppliers that he relies on to make products -- and underscoring the fact that if these suppliers, these smaller suppliers aren't getting credit it's very hard for him to build products for export.
WHITEHOUSE: President Obama Closes Forum on Jobs and Economic Growth
应用推荐