ECGC to conduct special country rating review on surge in global inflation

The Export Credit Guarantee Corporation of India (ECGC) will conduct a comprehensive country risk rating review as many nations face intense pressure on balance of payments following a surge in inflation. This may trigger revision in premium on export credit cover based on the risk perception.

There has been a sharp rise in prices of inputs impacting international trade after the Russia-Ukraine conflict early this year. While Asia and Africa have been more impacted, there is a concern for impact on members of Organisation for Economic Co-operation and Development (OECD).

According to ECGC Chairman M Senthilnathan, the review exercise would cover 90