ABSTRACT
On May 29, 2014 Argentina concluded a Paris Club debt rescheduling agreement. This was a noteworthy accomplishment since the country had been a virtual pariah since defaulting on its debt in 2001. As a result of the commitment of Argentina to pay its arrears to the Paris Club creditors and normalize financial relations, the Press Release confirmed, “Paris Club members’ export credit agencies that wish to do so will resume their export credit activities” (Paris Club Press Release May 29, 2014). This agreement was noted by one economist as being immediately significant since it would allow Argentina to benefit from trade financing from the export credit agencies of the Paris Club (Mander 2014). What are the connections between Paris Club rescheduling and Export Credit Agencies (ECAs)? The purpose of this book is to explain how ECAs mitigate contemporary risks inherent in international trade by providing trade insurance, and to analyze how ECAs contribute to the political economy of trade finance.
