GENEVA — World Trade Organization director-general Pascal Lamy is calling for steps to cope with the growing gap in global trade finance that is adversely affecting exporters, especially from poorer nations.
“The market currently estimates the liquidity gap in trade finance at about $25 billion — this is a sizable sum,” Lamy told WTO member countries at the end of a special meeting Wednesday with experts from the International Monetary Fund, the World Bank, major private banks such as J.P. Morgan Chase & Co. and Citigroup, and export credit agencies.
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