Export earnings guarantee schemes
Export earnings guarantee schemes: mechanisms usually aimed at ensuring that individual commodity producers or countries mainly dependent on export earnings from commodities are not exposed fully to sharp drops in their incomes. They are also known as compensatory financing arrangements. Examples of such mechanisms were STABEX and SYSMIN, both operated by the European Community under the Lomé Convention. They have been replaced in the ACP-EC Economic Partnership Agreement by a scheme to support national budgets in defined cases. The IMF Compensatory and Contingency Financing Facility has a broader scope.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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