The Cefa Brief
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- ComentárioCapital Markets
A country should build its export credit agency for speed, because it does not set the terms
The base an export credit is priced against moved 3.40 points on the ten-year Treasury between 2020 and 2025, and the policy rate moved 3.34 points from one year to the next. Those are larger than any margin an agency concedes, which leaves the signing date as the one term it owns, and a fast agency is worth having only if it can also refuse quickly.