AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 9 November 2017, the Spanish Eximbank CESCE announced the establishment of new insurance coverage for Spanish companies' investment in and exports to Madagascar and Ghana.
CESCE will insure Spanish companies' medium and long-term investments as well as export operations in Madagascar without a specified ceiling. Coverage to Spanish companies' business operations in Ghana will be capped at EUR 80 million (USD 93.2 million) for medium and long-term operations, whilst short-term operations are open without a specified ceiling.
In both cases, operations are subject to evaluation and must be submitted to the Spanish Government's Council of Economic Affairs.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.
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