336
Trade Finance during the Great Trade Collapse
Figure 19A.2 TFFP Transactions since 2005, by Value $106.33
value of transactions, US$ millions
1,000 $101.15 800 $76.53 600 $937.57 400
$801.24
$46.77 $572.94
200 $14.54 $8.00
$107.33
2005
2006
$282.41
0 2007 2008 year of operation
intraregional transactions
2009
2010
interregional transactions
Source: Authors’ compilation. Note: TFFP = Trade Finance Facilitation Program.
Notes 1. Chapter 18 of this volume discusses the GTLP in greater detail as well as other World Bank programs in response to the crisis. 2. To complement training efforts, the IDB’s beyondBanking program, launched in November 2009, highlights the catalytic role that FIs play in promoting large-scale economic growth and corporate change for IDB clients and the region. The program encourages FIs to recognize that financial operations that are more inclusive, environmentally friendly, and transparent translate into lower risk, access to new capital, and reputational advantages—as well as a tendency to produce higher financial and social returns than traditional operations. IDB, “beyondBanking: Banking on Global Sustainability.” IDB, Washington, DC. http://www.iadb.org/es/recursos-para-empresas/ beyondbanking/beyondbanking-banking-on-global-sustainability,1961.html.
References Fernández-Arias, Eduardo, and Peter J. Montiel. 2009. “Crisis Response in Latin America: Is the ‘Rainy Day’ at Hand?” Working Paper 686, Inter-American Development Bank, Washington, DC. Izquierdo, Alejandro, and Ernesto Talvi, eds. 2010. The Aftermath of the Crisis: Policy Lessons and Challenges Ahead for Latin America and the Caribbean. Washington, DC: Inter-American Development Bank. http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=35121569. Willson, Simon. 2010. “Africa Rebounding Almost in Line with World Recovery.” IMF Survey Magazine, March 10. http://www.imf.org/external/pubs/ft/survey/so/2010/car031110a.htm.