ANNOUNCEMENT 31 May 2016

On May 31, 2016 all Brazilian agricultural exports that suffer from import restrictions in their destination countries may be insured by the Brazilian Managing Agency of Insurance and Guarantee Funds (Agência Brasileira Gestora de Fundos Garantidores e Garantias S.A).

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Brazilian Senate's Website "Passed law that helps the issuing of insurance for exported agricultural goods", Agencia Senado "Sancionada lei que facilita concessão do seguro à exportação para produto agrícola"
http://www12.senado.leg.br/noticias/materias/2016/06/01/sancionada-lei-que-facilita-concessao-do-seguro-a-exportacao-para-produto-agricola

Inception date: 31 May 2016 | Removal date: open ended

Trade finance

On May 31, 2016 Law 13.292 allowed for all Brazilian agricultural exports that suffer from import restrictions in their destination countries to be insured by the Brazilian Managing Agency of Insurance and Guarantee Funds (FGE or the Agência Brasileira Gestora de Fundos Garantidores e Garantias S.A). The FGE will have $28 billion at its disposal to cover the risks of such agricultural goods abroad and a $7 billion margin to be approved in the future. The premium risk for each good is calculated on the value of it but taking into consideration political, financial and liquidity risks. 

AFFECTED PRODUCTS

 
N/A