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A single corporation created by the U.S. Treasury and the Export-Import Bank of the U.S. that facilitates funding of exports that have not been subsidized. The PEFCO does this with the purchase of loans in the secondary market from commercial lenders. The loans are then used to finance U.S. exports.
A federal agency responsible for facilitating international trade by financing the purchase of domestic exports and providing guarantees or insurance for foreign lines of credit. The Ex-Im bank was created in 1934, after congress established it to be the official export credit agency in the United States.
A good or service brought into one country from another. Along with exports, imports form the backbone of international trade. The higher the value of imports entering a country, compared to the value of exports, the more negative that country’s balance of trade becomes.