§ Mr. RedwoodTo ask the President of the Board of Trade what is her latest estimate of ECGD losses in 1997–98. [26380]
§ Mrs. Beckett[holding answer 30 January 1998]: ECGD does not expect on its current forecast to record a trading loss in 1997–98.
§ Mr. RedwoodTo ask the President of the Board of Trade when ECGD last revised its risk assessment of(a) Indonesia, (b) South Korea, (c) Malaysia, (d) Hong Kong and (e) China; and what changes it made. [26384]
§ Mrs. Beckett[holding answer 30 January 1998]: Formal risk assessments were last made as follows:
- (a) for Indonesia in December 1997;
- (b) for South Korea in September 1997;
- (c) for Malaysia in May 1997;
- (d) for Hong Kong in November 1996;
- (e) for China in November 1996.
As a result, premium rates were raised for Indonesia and China and reduced for Malaysia. The precise amount will vary according to the terms of support for individual transactions.
485WRates were last raised for South Korea in February 1996 and for Malaysia and Hong Kong in December 1995.
New assessments for South Korea, China and Hong Kong are currently under way and a further assessment of Malaysia is planned.
Additionally, since the onset of financial turbulence in South East Asia, ECGD is monitoring the situation continuously.