3.
However the French recently told ECGD that COFACE are
open for medium/long term cover in Hong Kong, although they
are not providing cover beyond 1997. They have asked ECGD
for a sight of the Joint Declaration in order to assess Hong
Kong risk post 1997.
4.
There is probably reason to be sceptical in viewing
current French claims that they are backing their companies
to the hilt in providing them with guarantees of credit
cover. But as ECGD pointed out, French exposure in Hong
Kong is only about one tenth of ECGDS, and COFACE could take
on a considerable amount of new business if they were so
inclined.
n
ALKABM/2
MJunes
T Furness
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