G7 Summit, Versailles, 1982


Twenty-two member countries of the OECD Trade Committee's Group on Export Credits and Credit Guarantees participate in the consensus known formally as Arrangement on Guidelines for Officially Supported Export Credits. The consensus (renewed approximately once a year) came into being in April 1978 in its present form. Its purpose is to provide the institutional framework for an orderly export credit market and thus to prevent an export credit race. OECD, The Export Credit Financing Systems in OECD Member Countries, 3d ed. (Paris, 1981), p. 7. -- P. Hajnal's note.

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