A new Country Limitation Schedule (CLS) with cover policy changes is effective May 30, 2024. The CLS indicates where EXIM is "open for cover" and where EXIM is "off-cover."
The "open for cover" designation refers to the possibility, rather than the certainty of EXIM support in particular cases. Where EXIM is "off-cover," it isnot willing to consider approval of routine transactions. These "off-cover" determinations are due to economic and/or political risks associated with the country.
Where the CLS indicates support is not available, EXIM can still consider financing arrangements that eliminate or externalize country risk. Potentially acceptable transactions include structured transactions that earn revenues offshore in a country with no CLS restrictions and are held in a bank or trust account acceptable to EXIM; third-party support from creditworthy entities in countries with no CLS restriction; and asset-backed lease and financing structures involving equipment such as aircraft.
Changes include:
Bolivia: Closed for short- and medium-term transactions in the public and private
sectors.
Ecuador: Closed for short- and medium-term transactions in the public sector and
closed for long-term transactions in the private sector.
Gabon: Closed for long-term transactions in the public sector.
Liberia: Opened for medium- and long -term transactions in the public and private
sectors.
Niger: Closed for short-term transactions in the public sector.
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