discussion relating to countries in this region
Belarus
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Jonathan Steenberg BERNE UNION Posts: 52
29/06/2021 04:33
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This is a discussion forum on country cover policy for Belarus.
Feel free to share any changes on your policy for any obligors in the country or any other updates.
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Peter Toft EIFO Posts: 101
12/07/2021 12:14
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Dear colleagues,
As is well known the European Council last week adopted wide-ranging sanctions against Belarus.
At EKF we have adjusted our cover policy to CBC on all terms until further notice not least to gain time to analyze the full implications of the sanctions regarding the legaility of doing business in the country by EU member states. Nevertheless, the sanctions will likely also negativley impact the outlook for political and macroeconomic risks in Belarus.
Would you kindly share your views on the European sanctions or any possible cover policy respones so far?
Kind regards
EKF
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Heike Kensmann EULER HERMES Posts: 164
13/07/2021 08:44
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Dear colleagues,
We, too, are intensively dealing with the current political and economic developments in Belarus and the resulting international reactions. Our exporters are of course required to adapt to the current sanctions situation. So far, there has been no formal change in the cover policy (however, for MLT business we are already at CBC). However, the applications are always carefully assessed in the light of the very current situation when making decisions and in depth assessments of the very specific situation as regards sanctions and corruption are undertaken case by case. We also consider a further deterioration of the macroeconomic situation, both due to the sanctions and the tense domestic political situation, to be probable.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division
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