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EX-IM BANK SUPPORTS WIDE RANGE OF EXPORTS TO SUB-SAHARAN AFRICA

FOR IMMEDIATE RELEASE August 19, 2001

Media Contact Name/Phone: 

Cheryl Crispen (202) 565-3200

The Export-Import Bank of the United States (Ex-Im Bank) has retained economic and trade experts for their individual views to assist the Bank in reviewing and evaluating comments received on Ex-Im Bank's proposed changes to its economic impact procedures. These experts will help the Bank revise its procedures in a manner that will better ensure their effectiveness in supporting U.S. exports and jobs in the changing economic environment. The public was given opportunities to make comments on Ex-Im Bank's proposed changes both at a public meeting at Ex-Im Bank on July 31, 2001 and to submit written comments by August 17, 2001.

We have received public comments from a wide range of interested parties, including impacted industries, exporters, banks and labor unions and government agencies, said Ex-Im Bank Chairman John E. Robson. Ex-Im Bank will work to create a balanced, open process to discharge our statutory obligation to assess the impact on the U.S. economy of Ex-Im Bank-supported export sales.

The experts are:

Bill Frenzel, Brookings Institution, guest scholar-government studies. Former member, U.S. House of Representatives (R-MN) 1971-91; former ranking minority member, House Budget Committee; former member, Subcommittee on Trade, House Ways and Means Committee; former Congressional Representative to the General Agreement on Tariffs and Trade (GATT).

Dr. Robert W. Hahn, American Enterprise Institute-Brookings Joint Center for Regulatory Studies, director. Resident scholar, AEI; research associate, Harvard University.

Dr. Jerry A. Hausman, Massachusetts Institute of Technology, John and Jenny S. MacDonald Professor, Department of Economics. Fellow, Journal of Econometrics, 1998; Fellow, National Academy of Social Insurance, 1990

Dr. J. David Richardson, Syracuse University, professor of economics and international relations, Gerald and Daphna Cramer Professor of Global Affairs. Research interests include U.S. trade policy, strategic trade policy, trade patterns across states.

Dr. Robert Eck Scott, Economic Policy Institute, director of international programs. Former associate director, College of Business and Management's Center for International Business Education. Visiting senior economist, Joint Economic Committee, U.S. Congress, 1994.

Dr. Marina v. N. Whitman, University of Michigan, Gerald R. Ford School of Public Policy, professor of business administration and public policy. Research interests include international trade and investment, cross-national comparisons of labor allocation. Member of President's Council of Economic Advisors, 1972-73.

An electronic reading room as been established on Ex-Im Bank's web site at www.exim.gov to facilitate public review of documents pertaining to the economic impact issue. On Ex-Im Bank's home page, in the Ex-Im News section, click on economic impact procedures to access Ex-Im Bank's draft proposal of possible changes to its economic impact procedures. Click on the highlighted phrase view responses at the top right-hand corner of this document to access the comments of all interested parties on this issue, as well as the transcript of the July 31, 2001 public meeting.

Ex-Im Bank is an independent U.S. government agency that helps finance the sale of U.S. exports primarily to emerging markets throughout the world, by providing loans, guarantees, and insurance. Ex-Im Bank supported $15.5 billion in U.S. exports in fiscal year 2000.