EXTRA: WTO: Emerging markets need more credit for trade
|
| Posted
:
Thu, 02 Jul 2009 14:05:37 GMT |
| By
:
DPA |
| Category
:
Business |
| News Alerts by
Email ( click
here ) |
|
|
|
|
|
Geneva - The global credit markets for trade facilitation are still tied up as larger economies pull their investments out of the developing world, creating shortages of the finance needed to carry out deals, according to a report by World Trade Organization Director-General Pascal Lamy. "Anecdotal evidence shows that the global market situation remains tense, with increased payment defaults and high costs of credit," Lamy said in his report to members of the WTO. At the last G20 summit, leaders pledged to increase the funds available to international institutions to lend out to countries in need of trade finance. "Financial protectionism," a term generally referring to policies which push banks to lend more domestically, was also hurting the funds available to developing and emerging markets.
Copyright DPA
|
|
|
|
|
|
Related News
Jordan, Turkey open final round of talks for free trade accord
Amman - Jordan and Turkey on Tuesday held the seventh and final round of negotiations for liberalizing trade between the two countries, a senior official said. A free trade agreement is now expected to be signed when Turkish Prime Minister Recept Tay...
International stock market quotations 24 November 2009
Frankfurt - The following index quotations were noted on the world's major stock markets:New York Dow Jones 10,412.7810,450.95(-38.17) New York NASDAQ Comp.2,164.80 2,176.01(-11.21) TokyoNikkei 9,401.58 9,497.68(-96.10) Sydney All Ordinaries 4,708.20...
Frankfurt Stock Exchange quotations 24 November 2009
Frankfurt - Frankfurt Stock Exchange closing prices in euros. In brackets the point movement of index/price movement of stocks against previous quotation: ...
Germany underpins tottering state-owned bank WestLB
Berlin - Key stakeholders have agreed to underpin a tottering state-owned German bank, WestLB, to stop it lurching into insolvency, a Finance Ministry spokesman in Berlin said Tuesday. WestLB, based in the western city of Dusseldorf, will be the firs...
Al-Jazeera buys rival ART sports network
Doha - Qatar-based regional broadcast giant al-Jazeera's sport channel on Tuesday announced it had sealed a deal to purchase its Saudi-owned rival Arab Radio and Televison (ART)'s sports channel. Al-Jazeera now owns the ART sports network's brand and...
Despite optimism, economy 'still volatile', says Merkel - Summary
Berlin - Despite a brace of positive data for the German economy on Tuesday, Chancellor Angela Merkel warned against undue optimism at an employers' conference in Berlin. We find ourselves on very volatile ground, Merkel said, adding that a new spe...
EU market regulators raid Czech energy company
Brussels/Prague - The European Commission said Tuesday it had raided the premises of Czech energy company CEZ following concerns that it may have engaged in illegal practices aimed at shutting rival firms out of the market. The suspected illegal con...
|
|
|
|
|
|
|
|
