Exporting Corruption:
How Rich Country Export Credit Agencies Facilitate Corruption in the Global South
first published 1 May 2006
Everything you didn't want to know about export credit agencies, tried to ask -- and couldn't find on this website . . . until now. What are export credit agencies (ECAs)? What is the rationale for their existence? How economically substantial are ECAs? Would multinationals make the same investments in the absence of ECA support? Do ECAs provide funds to cover the cost of bribes? Do ECAs provide insurance for companies engaged in corrupt activity? How do ECAs employ their political muscle against developing countries? Is it fair to blame ECAs for their entanglement with corruption? Are there meaningful differences among ECAs in terms of their policies on corruption? What do ECAs demand from importing countries by way of guarantees? How significant is developing country debt related to ECA-backed deals? How much of this debt was siphoned off in corrupt deals? Are ECA policies and practices related to corruption improving? What are the strengths and weaknesses of those policies and practices? What are the best solutions to disentangle ECAs from corrupt practices? Is debarment politically feasible? Should ECAs be shut down and insurance left to the private sector? These questions are all answered in the May/June 2006 issue of Multinational Monitor, which focuses on corruption and which includes an interview with The Corner House. Other articles on corruption in the issue include: "Combating the Culture of Corruption, Or Not" by Charlie Cray "Oil and Violence in Sudan: Drilling, Poverty and Death in Upper Nile State" by Egbert Wesselink and Evelien Weller