Trade finance still constrained, finds ICC and Swift
In a new report Rethinking Trade Finance 2010, the International Chamber of Commerce ICC and Swift have found that prospects for a strong and lasting trade recovery are mixed with access to affordable trade finance constrained and trade protectionism remaining a problem. It said banks would also face tougher capital requirements for their trade assets. While the survey found that world trade has fallen 12% since the start of the global financial crisis, the drop was less marked in Asian regions.
The ICC and Swift concluded that improving the resilience of emerging market economies is still important and that there is a continuing need...
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