13/07/2021 08:44
Topic:
Belarus
Heike Kensmann
|
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 |
14/07/2021 06:05
Topic:
EU sanctions against Belarus
Heike Kensmann
|
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 |
10/11/2021 10:03
Topic:
Zambia
Heike Kensmann
|
Dear members,
Traditionally, our cover volume on Zambia is very low and private sector only. Our overall payment experience is satisfactory. We have no experience with Zambia Electricity Supply Corporation Limited.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
02/01/2023 01:02
Topic:
Country Cover policy on Egypt
Heike Kensmann
|
Dear Shivam, dear colleagues,
We also recognized some increase in overdues in the past couple of months, but no increase in claims. We are carefully observing the developments in the country, and it seems it relates to the foreign currency policy of the country.
Our cover facilities towards Egypt remains as follows (please see also our website: https://www.agaportal.de/en/laenderinfo/land/aegypten):
Grading: 5/7
ST: CBC
MLT: P: CBC, CBG on CBC / C: NR, CBG on CBC
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
24/04/2024 05:46
Topic:
Inquiry about your action or measure for Israel-Iran
Heike Kensmann
|
Dear colleagues,
We are following the current developments very closely, but have not changed our cover policy for the two countries.
We are open to business in Israel without any restrictions, but we do not provide cover for business with Iran.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
29/05/2024 07:04
Topic:
Export Credit Insurance and Political Risk Insurance in Myanmar
Heike Kensmann
|
Dear colleagues from THAI EXIM,
Thank you for contacting us. Basically we provide cover for Myanmar on a case by case basis, but we do not see a significant demand for it.
Please feel free to contact us again.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
20/08/2024 06:52
Topic:
Underwriting Guidelines and SOP in Response to Country Risks
Heike Kensmann
|
Dear Colleagues,
Global developments are monitored closely by our team of country risk experts. In case of rising risks (e.g. the Russian invasion in Ukraine) we propose adjustments to our cover policy to our interministerial committee which decides on a case by case basis. Our underwriters then implement the decision of the interministerial committee (e.g. by suspending credit limits). We do not have a standard list of factors taken into consideration or a fixed time frame. Decisions are taken individually depending on the circumstances in the respective country.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |
13/06/2025 07:07
Topic:
Inquiry - Egypt’s Country Risk
Heike Kensmann
|
Dear colleagues,
We did not change our cover policy recently: Our current short-term cover policy for transactions up to 360 days allows for cover case-by-case for public sector transactions, particularly for projects enhancing economic development. For private sector transactions, cover would be taken into consideration based on sound buyer information..
Our payment experience improved in the aftermath of the financial crises in 2023/2024, and our claims situation in Egypt has been stable in recent years.
Please feel free to contact us for any further information or to look at our country information website on Egypt.
Kind regards
Euler Hermes Aktiengesellschaft
Federal Export Credit Guarantee Division |