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31 October 2014

ECAs and local currency financing – what we have learnt so far

Agri/Soft Commodities, Infrastructure, Manufacturing & equipment, Metals and Mining, Oil & gas, Power, Renewables, Telecoms and Communications, Transport, Waste and water
Middle East & Africa, Americas, Asia-Pacific, Europe
Vice President at Berne Union
One major lesson learned from the financial crises in emerging markets since the 1980s is that large currency mismatches, both at a public and private sector level, strongly increase the vulnerability of a country to adverse shocks. The financing of local-currency activities by foreign currency denominated liabilities is therefore an inherent weakness

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