Rising interest rates, dwindling economic prospects, high inflation and geopolitical instability have drastically reduced banks’ capacity to deliver trade financing. What will reduce the gap?
Recent global stresses have exposed the cracks in the world’s trade system, and some argue that it has become more destructive than beneficial. Trade is crucial, especially for developing economies. Global trade should be reviewed and revamped for the good of all through digitalization, mainstreaming green trade and greater transparency.
Global Trade Finance Gap at Record $2 5 Trillion, Says ADB gcaptain.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gcaptain.com Daily Mail and Mail on Sunday newspapers.
Steven Beck, head of ADB’s trade and supply chain finance program, discusses how ADB is assisting businesses in their transition to a digital and sustainable economy.