Bush cuts Ex-Im budget.(George W. Bush, Export-Import Bank)(Brief Article)

Banker, The, April, 2001

The Coalition for Employment through Exports, whose members include America's biggest banks, Citibank in the Citigroup conglomerate and Bank of America, as well as leading US businesses, has surprisingly come down on the other side of the fence to George W. Bush's administration on an issue that the Coalition believes will have an immediate impact on the Export-Import Bank (Ex-Im) of the US, America's official export credit agency.

The government has proposed cutting Ex-Im's budget by 25% in the fiscal year starting October 1, 2001, which represents a reduction of about $4bn in the agency's financing compared with its last fiscal year, to about $8.6bn in financing. This comes at a time when the export credit agencies of Japan, France, Korea, Germany and Canada,...

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