The OECD Arrangement on Guidelines for Officially Supported Export Credits


The Gentlemen’s Agreement Under Pressure

Introduction

It was 1998 and OECD governments had much to be proud of. The OECD Arrangement on Guidelines for Officially Supported Export Credits had been in place for two decades and some major milestones had been achieved. The Arrangement (also called the ‘Consensus’ or ‘Gentlemen’s Agreement’) had very effectively avoided what in the 1970s many feared would be an ‘export credit war’ by establishing rules on maximum credit terms, minimum interest rates and minimum down payments, as well as mixed credits.



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Posted on Jan 30, 2003
Region: Specialist articles