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ICC survey predicts 2012 trade finance demand drop
18 January 2012
A joint survey by the ICC and the IMF says the lack of availability of trade finance, especially from deleveraging banks, will lead to depressed trade volumes for 2012.
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New research by the International Chamber of Commerce (ICC) and the International Monetary Fund (IMF) has revealed a largely pessimistic outlook regarding demand for trade finance products in 2012.
Based upon inputs received from 337 financial institutions responding to a joint ICC-IMF survey, the findings also show a two-speed financial system: for emerging Asia the outlook is the strongest, while the Euro area is the weakest.
“Around 60% of the respondents indicated that the demand for trade in Asia will show improvement in 2012, while close to 50% of respondents predicted a further deterioration for the Euro area,” says Thierry Senechal, ICC senior policy manager for banking.
“Recent developments in European financial markets and their impact on global trade finance...
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