ICC’s Olivier Paul discusses the implications of COVID-19 for the trade finance industry in The Asian Banker
July 1, 2020
Writing for The Asian Banker, Olivier Paul, Director, Finance for Development at the International Chamber of Commerce (ICC), discusses the implications of the Coronavirus pandemic for the trade finance industry and the measures needed to backstop a trade recovery.
Undoubtedly, global trade volumes are expected to fall in 2020 – and with them – the revenues of the trade finance industry. Yet several priority interventions could immediately bolster financing capacity, including large scale purchases of low-risk trade assets, transitioning to paperless trading or providing capital relief for trade transactions under global financial stability rules, known as Basel III.
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TAGS: Financial Services