Central America Aid:

Status of the Trade Credit Insurance Program

NSIAD-86-29FS: Published: Dec 31, 1985. Publicly Released: Dec 31, 1985.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

GAO reported on the use, control, and funding of the Trade Credit Insurance Program, which the Agency for International Development (AID) and the Export-Import Bank (Eximbank) jointly administer to guarantee repayment of U.S. commercial credit to finance Central American imports of U.S. goods and services.

GAO found that: (1) as of December 1985, less than 9 percent of the $300 million credit-guarantee ceiling established for the program had been committed; (2) AID and Eximbank attributed the limited program use to start-up difficulties, bank procedures, limited demand, and private-sector reluctance to incur the debt; (3) AID and Eximbank only had data on the specific products imported under the program in Honduras; (4) in Honduras, most of the items imported were being used to produce goods for domestic consumption, but some were ineligible consumer goods; (5) AID has relied on host-country central banks to control the program's use and has sought to avoid complex procedures which could impede program implementation; (6) although AID designed the program to be self-sustaining, it set aside $60 million in fiscal year (FY) 1985 for a bad-debt reserve but reprogrammed $50 million for other purposes; and (7) for FY 1986, AID requested $40 million for the bad-debt reserve, but planned to reprogram a portion of the amount for other purposes late in FY 1986. GAO has not reached any conclusions about the need for reserve program funds.

May 24, 2017

  • international icon: Art Explosion

    Electronic Cigarettes:

    U.S. Imports in 2016
    GAO-17-515R: Published: Apr 24, 2017. Publicly Released: May 24, 2017.

May 18, 2017

Apr 26, 2017

Apr 13, 2017

Apr 10, 2017

Apr 5, 2017

Mar 24, 2017

Mar 22, 2017

Mar 16, 2017

Mar 3, 2017

Looking for more? Browse all our products here