§ Sir Anthony Durant
To ask the President of the Board of Trade what is his policy on support for exports to countries which have rescheduled their debts and have re-established their creditworthiness.
§ Mr. Needham
Following a review of its risk assessment systems for those markets, the Export Credits Guarantee Department will now be adopting normal underwriting criteria to assess applications for support from United Kingdom exporters, the principal criterion being the ability of the overseas buyer or borrower to meet it debts on time. The main consequence of applying normal criteria will be to broaden the range of exports eligible for support, and significant reductions in premium rates on a number of markets. The Government will also be pursuing an initiative in international forums to ensure that the prime focus of export credit and other financial support in such markets will be upon goods and services which will foster and sustain their economic rehabilitation.