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The Export-Import Bank of United States, the official exportcredit agency, is in danger of closing down on July 1.
The bank, which seeks to finance exports that the private sector is unwilling or unable to undertake, is currently operating on a short term extension of its congressional charter, which expires on June 30.
Given the deadline, the discussion on whether Congress should reauthorize the bank is becoming increasingly heated.
"We look for a five-year reauthorization," Congressman Robert J. Dold said in a panel discussion that called for reauthorization on Thursday in Washington.
"There are about 60 credit agencies around the world that are financing their countries' exports," said Daniel F. Runde, director of the project on US leadership in development at the Center for Strategic and International Studies.
"Foreign credit agencies around the world are watching this debate. They would love nothing more than to let the US Exim bank go away," he said.
Export bank is nearing deadline Business chinadaily.com.cn
I'm sure they would.
The bank, which seeks to finance exports that the private sector is unwilling or unable to undertake, is currently operating on a short term extension of its congressional charter, which expires on June 30.
Given the deadline, the discussion on whether Congress should reauthorize the bank is becoming increasingly heated.
"We look for a five-year reauthorization," Congressman Robert J. Dold said in a panel discussion that called for reauthorization on Thursday in Washington.
"There are about 60 credit agencies around the world that are financing their countries' exports," said Daniel F. Runde, director of the project on US leadership in development at the Center for Strategic and International Studies.
"Foreign credit agencies around the world are watching this debate. They would love nothing more than to let the US Exim bank go away," he said.
Export bank is nearing deadline Business chinadaily.com.cn
I'm sure they would.