Trade Finance during the Great Trade Collapse by Jean-Pierre Chauffour, Mariem Malouche
Publisher: World Bank Publications | 2011 | ISBN: 0821387480 | 428 pages | PDF | 6,4 MB
On September 15, 2008, Lehman Brothers, the fourth largest U.S. investment bank filed for bankruptcy. Global credit markets tightened. Spreads skyrocketed. International trade plummeted by double digits. Banks were reportedly unable to meet the demand from their customers to finance their international trade operations, leaving a trade finance “gap” estimated at around US$25 billion.