The European Commission announced on Monday 23 March that it had launched an urgent public consultation to assess the availability of private short-term export-credit insurance capacity for exports to all countries listed as “marketable risk countries” in the 2012 Short-term export-credit Communication.
This consultation follows the indication by several Member States that they expect a forthcoming global contraction of the private insurance market for exports to all countries due to the coronavirus outbreak.
In order to assess whether public short-term export-credit insurance should be more widely available in the light of the current crisis, the Commission has launched a public consultation. Depending on the results of the consultation and taking into account the relevant economic indicators, the Commission then may decide to remove countries from the list of “marketable risk countries” as a temporary measure.
In case of removal, short-term export-credit risks towards those countries would be considered as temporarily non-marketable and State insurers would, as a result, in principle be able to step in and provide insurance for such risks. (Original version in French by Lionel Changeur)