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DEVELOPING CREDIT INSURANCE IN AFRICA AND THE MEDITERRANEAN

DEVELOPING CREDIT INSURANCE IN AFRICA AND THE MEDITERRANEAN. UNCTAD/WTO – TUNISIA 23-24 OCTOBER 2000. REGIONAL CREDIT INFORMATION SYSTEMS FOR AFRICA. GRAHAM YOUNG BA BSc PhD FRGS FZS MANAGING DIRECTOR INTERNATIONAL FINANCIAL CONSULTING LTD. APPROACH. IMPORTANCE OF INFORMATION

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DEVELOPING CREDIT INSURANCE IN AFRICA AND THE MEDITERRANEAN

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  1. DEVELOPING CREDIT INSURANCE IN AFRICA AND THE MEDITERRANEAN UNCTAD/WTO – TUNISIA23-24 OCTOBER 2000

  2. REGIONAL CREDIT INFORMATION SYSTEMS FOR AFRICA GRAHAM YOUNG BA BSc PhD FRGS FZS MANAGING DIRECTOR INTERNATIONAL FINANCIAL CONSULTING LTD

  3. APPROACH • IMPORTANCE OF INFORMATION • WHAT INFORMATION • RELIABILITY AND CONSISTENCY • WHY DO WE NEED INFORMATION • WHEN DO WE WANT INFORMATION • HOW DO WE NEED INFORMATION • THE PRESENT SITUATION • WAYS FORWARD

  4. VITAL IMPORTANCE OF INFORMATION

  5. VITAL IMPORTANCE OF INFORMATION________________________ • TRADE AND INVESTMENT FLOWS DEPEND ON RELIABLE AND UP TO DATE INFORMATION

  6. VITAL IMPORTANCE OF INFORMATION________________________ • TRADE AND INVESTMENT FLOWS DEPEND ON RELIABLE AND UP TO DATE INFORMATION • DECISIONS CANNOT BE TAKEN IN AN INFORMATION VACUUM

  7. VITAL IMPORTANCE OF INFORMATION________________________ • TRADE AND INVESTMENT FLOWS DEPEND ON RELIABLE AND UP TO DATE INFORMATION • DECISIONS CANNOT BE TAKEN IN AN INFORMATION VACUUM • NO INFORMATION MEANS RESTRICTED OR DELAYED OR NO FLOWS

  8. VITAL IMPORTANCE OF INFORMATION________________________ • KEY STAGES TO ENSURE ADEQUATE FLOWS-

  9. VITAL IMPORTANCE OF INFORMATION________________________ • KEY STAGES TO ENSURE ADEQUATE FLOWS- • BANKS AND COMPANIES TO PRODUCE INFORMATION IN CLEARLY SPECIFIED FORMAT AND DETAIL

  10. VITAL IMPORTANCE OF INFORMATION________________________ • KEY STAGES TO ENSURE ADEQUATE FLOWS- • BANKS AND COMPANIES TO PRODUCE IN CLEARLY SPECIFIED FORMAT AND DETAIL • MONITORING OF COMPLIANCE AND, WHERE NECESSARY, ENFORCING

  11. VITAL IMPORTANCE OF INFORMATION________________________ • KEY STAGES TO ENSURE ADEQUATE FLOWS- • BANKS AND COMPANIES TO PRODUCE IN CLEARLY SPECIFIED FORMAT AND DETAIL • MONITORING OF COMPLIANCE AND, WHERE NECESSARY, ENFORCING • ENSURING INFORMATION GENERALLY AVAILABLE IN MOST COST-EFFECTIVE WAY

  12. WHAT INFORMATION

  13. WHAT INFORMATION________________________ • FINANCIAL STATEMENTS AUDITED TO INTERNATIONAL STANDARDS

  14. WHAT INFORMATION________________________ • FINANCIAL STATEMENTS AUDITED TO INTERNATIONAL STANDARDS • INFORMATION ON RELEVANT ASPECTS OF LEGAL SYSTEM AND RELATED GOVERNMENT POLICY

  15. WHAT INFORMATION________________________ • FINANCIAL STATEMENTS AUDITED TO INTERNATIONAL STANDARDS • INFORMATION ON RELEVANT ASPECTS OF LEGAL SYSTEM AND RELATED GOVERNMENT POLICY • DETAILS OF COURT JUDGMENTS AND DEBT ENFORCEMENT

  16. RELIABILITYAND CONSISTENCY OF INFORMATION

  17. RELIABILITYAND CONSISTENCY OF INFORMATION________________________ • INFORMATION MUST BE RELIABLE

  18. RELIABILITYAND CONSISTENCY OF INFORMATION________________________ • INFORMATION MUST BE RELIABLE CONSISTENT

  19. RELIABILITYAND CONSISTENCY OF INFORMATION________________________ • INFORMATION MUST BE RELIABLE CONSISTENT TRANSPARENT

  20. WHY THE NEED FOR INFORMATION?

  21. WHY THE NEED FOR INFORMATION?________________________ • FOR RISK ASSESSMENT

  22. WHY THE NEED FOR INFORMATION?________________________ • FOR RISK ASSESSMENT • TO ESTABLISH BUYER’S STATUS

  23. WHY THE NEED FOR INFORMATION?________________________ • RISK ASSESSMENT • THE CREDITWORTHY BUYER IS ONE WHOM THE UNDERWRITER JUDGES TO BE WILLING AND ABLE TO MEET ITS OBLIGATIONS

  24. WHY THE NEED FOR INFORMATION?________________________ FOR RISK ASSESSMENT • THE CREDITWORTHY BUYER IS ONE WHOM THE UNDERWRITER JUDGES TO BE WILLING AND ABLE TO MEET ITS OBLIGATIONS • THE GOOD BUYER IS ONE WHO SHOWS COMMERCIAL MORALITY, GOOD MANAGERIAL CAPACITY, TRADING PRUDENCE, GOOD PAYMENTS RECORD ETC

  25. WHY THE NEED FOR INFORMATION?________________________ • TO ESTABLISH BUYER STATUS • IN WHICH SECTOR DOES IT OPERATE? • PRIVATE • PUBLIC • SOVEREIGN

  26. WHY THE NEED FOR INFORMATION?________________________ • PRIVATE • TYPE OF BUSINESS- SOLE TRADER, PARTNERSHIP, LIMITED COMPANY (MULTI-NATIONAL, SUBSIDIARY ETC)

  27. WHY THE NEED FOR INFORMATION?________________________ • PRIVATE • TYPE OF BUSINESS- SOLE TRADER, PARTNERSHIP, LIMITED COMPANY (MULTI-NATIONAL, SUBSIDIARY ETC) • TRADE SECTOR- MANUFACTURER, DISTRIBUTOR, WHOLESALER, RETAILER ETC

  28. WHY THE NEED FOR INFORMATION?________________________ • PUBLIC • STATUS- STATE TRADING ORGANISATION, PUBLICLY-OWNED CORPORATION, LOCAL AUTHORITY

  29. WHY THE NEED FOR INFORMATION?________________________ • PUBLIC • STATUS- STATE TRADING ORGANISATION, PUBLICLY-OWNED CORPORATION, LOCAL AUTHORITY • EXPERIENCE- IN TRADE SECTOR

  30. WHY THE NEED FOR INFORMATION?________________________ • PUBLIC • STATUS- STATE TRADING ORGANISATION, PUBLICLY-OWNED CORPORATION, LOCAL AUTHORITY • EXPERIENCE- IN TRADE SECTOR • SOURCE OF REVENUE

  31. WHY THE NEED FOR INFORMATION?________________________ • PUBLIC • STATUS-STATE TRADING ORGANISATION, PUBLICLY-OWNED CORPORATION, LOCAL AUTHORITY • EXPERIENCE- IN TRADE SECTOR • SOURCE OF REVENUE • INSOLVENCY

  32. WHY THE NEED FOR INFORMATION?________________________ • SOVEREIGN • ABILITY TO COMMIT THE FULL FAITH AND CREDIT OF THE GOVERNMENT, ESPECIALLY, AS REGARDS PAYMENT IN FOREIGN CURRENCY

  33. WHEN DO WE WANT THE INFORMATION

  34. WHEN DO WE WANT THE INFORMATION________________________ • AS SOON POSSIBLE- THE KEY IS FRESHNESS

  35. HOW DO WE WANT THE INFORMATION

  36. HOW DO WE WANT THE INFORMATION________________________ • READILY ACCESSIBLE

  37. HOW DO WE WANT THE INFORMATION________________________ • READILY ACCESSIBLE • READILY AVAILABLE

  38. HOW DO WE WANT THE INFORMATION________________________ • READILY ACCESSIBLE • READILY AVAILABLE • AT ECONOMIC COST

  39. THE PRESENT SITUATION

  40. THE PRESENT SITUATION________________________ • GLOBALLY POOR WITH A FEW BRIGHT SPOTS

  41. THE PRESENT SITUATION________________________ • MAIN PLAYERS • CREDIT INFORMATION AGENCIES • ECAs AND COMMERCIALBANKS • BUYERS AND SELLERS • IFIs

  42. THE PRESENT SITUATION________________________ • MISSING PLAYERS • TOO MANY GOVERNMENTS

  43. THE PRESENT SITUATION________________________ • WHY TOO MANY GOVERNMENTS ARE MISSING PLAYERS? • LACK OF POLITICAL WILL

  44. THE PRESENT SITUATION________________________ • WHY TOO MANY GOVERNMENTS ARE MISSING PLAYERS • LACK OF POLITICAL WILL • LACK OF RESOURCES AND/OR TECHNICAL KNOWLEDGE

  45. WAYS FORWARD

  46. WAYS FORWARD________________________ • ATTRACT AND RETAIN GOVERNMENTS’ ATTENTION

  47. WAYS FORWARD________________________ • ATTRACT AND RETAIN GOVERNMENTS’ ATTENTION • ATTRACT AND RETAIN IFIs ATTENTION

  48. WAYS FORWARD________________________ • ATTRACT AND RETAIN GOVERNMENTS’ ATTENTION • ATTRACT AND RETAIN IFIs ATTENTION • SOURCE FUNDING AND TECHNICAL KNOWLEDGE

  49. WAYS FORWARD________________________ • INDIVIDUAL COUNTRY ORGANISATION • V • REGIONAL ORGANISATIONS

  50. WAYS FORWARD________________________ • WHO SHOULD OWN/CONTROL/OPERATE? • OWNERSHIP- THESTATE • CONTROL- THE STATE (WITH PRIVATE SECTOR ASSISTANCE) • OPERATE- THE PRIVATE SECTOR

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