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hack89

(39,181 posts)

19. Export-Import Bank of the United States finances US exports

Sat Jan 12, 2013, 01:30 PM

Jan 2013

how does that impact PDVSA? The money is not used for infrastructure.

Wouldn't PDVSA borrow from commercial lenders to finance infrastructure? Don't you agree that such transactions are not sanctioned?

You are struggling here - you need to find some hard facts.

On edit:

The Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency of the United States federal government. It was established in 1934 by an executive order, and made an independent agency in the Executive branch by Congress in 1945, for the purposes of financing and insuring foreign purchases of United States goods for customers unable or unwilling to accept credit risk. The mission of the Bank is to create and sustain U.S. jobs by financing sales of U.S. exports to international buyers. The Bank is chartered as a government corporation by the Congress of the United States; it was last chartered for a two-year term in 2012.[1] Its Charter spells out the Bank's authorities and limitations. Among them is the principle that Ex-Im Bank does not compete with private sector lenders, but rather provides financing for transactions that would otherwise not take place because commercial lenders are either unable or unwilling to accept the political or commercial risks inherent in the deal.

http://en.wikipedia.org/wiki/Export-Import_Bank_of_the_United_States

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Economists see painful cuts coming for Venezuela [View all] hack89 Jan 2013 OP

Interesting Tempest Jan 2013 #1

What sanctions? hack89 Jan 2013 #2

*Groan* Tempest Jan 2013 #3

There are no limits on oil exports hack89 Jan 2013 #5

And now for the rest of the story Tempest Jan 2013 #8

But PDVSA only exports oil to the US and that is untouched hack89 Jan 2013 #12

You completely ignored my post. Good job. n/t Tempest Jan 2013 #14

Those things don't impact oil exports and the billions of dollars they bring in hack89 Jan 2013 #15

What happens to infrastructure when you can't finance the costs of improvements? Tempest Jan 2013 #16

And how does this stop PDVSA from improving infrastructure? hack89 Jan 2013 #17

*groan* Tempest Jan 2013 #18

Export-Import Bank of the United States finances US exports hack89 Jan 2013 #19

You're not looking at the big picture Tempest Jan 2013 #20

You misunderstand what the Export-Import bank does. hack89 Jan 2013 #21

Oy...it just came out that Chavez has cancer, and the austerity vultures are already circling tjwash Jan 2013 #4

Yup. With the IMF and World Bank leading the charge. n/t Tempest Jan 2013 #10

The people have had some good years - austerity will not be accepted easily. This will not end jwirr Jan 2013 #6

You can't blame the US for this hack89 Jan 2013 #7

I do not believe that your statement is the whole story. You need to read "The Shock Doctrine" by jwirr Jan 2013 #9

He's also unaware of the U.S. strangling the country's ability to obtain financing. n/t Tempest Jan 2013 #11

And a lot of people are not aware if what Standard Oil (Exxon) did to that country for years before jwirr Jan 2013 #13