discussion relating to countries in this region
Kazakhstan
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Jonathan Steenberg BERNE UNION Posts: 52
29/06/2021 04:34
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This is a discussion forum on country cover policy for Kazakhstan.
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
10/01/2022 11:54
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Dear colleagues,
With the ongoing troubles in Kazakhstan would you kindly share if you are experiencing any difficulties in payments from the country in addition to your current cover policies or if possible, considerations on limiting cover.
EKF is currently considering tightening our cover policy on private buyers to "tight resetrictions" from "modest restrictions" i.e. a min. requirement to only acccept CC1-rates buyers on LT transactions. This in view of the country risk having likely taken a turn for the worse in the medium-long-term.
Our current cover policy:
Sovereign buyers: Open for cover
Sub-sovereign buyers: cbc
Banks: Only the strongest banks on LT acceptable
Private buyers: Min. CC2 on LT, robustness to currency mis-match on MT
LT commitments: EUR 100 m
ST commitments: none
Kind regards
EKF
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Sonja Wittkowski EULER HERMES Posts: 175
26/01/2022 10:09
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Dear Peter,
We too are concerned about the events in Kazakhstan, are following the developments closely and are also trying to get a picture of the situation via German representatives abroad.
Our clients have not reported any significant payment delays so far and we are therefore sticking to our current cover policy https://www.agaportal.de/en/laenderinfo/land/kasachstan for the time being.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division
Peter Toft wrote:
Dear colleagues,
With the ongoing troubles in Kazakhstan would you kindly share if you are experiencing any difficulties in payments from the country in addition to your current cover policies or if possible, considerations on limiting cover.
EKF is currently considering tightening our cover policy on private buyers to "tight resetrictions" from "modest restrictions" i.e. a min. requirement to only acccept CC1-rates buyers on LT transactions. This in view of the country risk having likely taken a turn for the worse in the medium-long-term.
Our current cover policy:
Sovereign buyers: Open for cover
Sub-sovereign buyers: cbc
Banks: Only the strongest banks on LT acceptable
Private buyers: Min. CC2 on LT, robustness to currency mis-match on MT
LT commitments: EUR 100 m
ST commitments: none
Kind regards
EKF
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