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As far back as 1976, OECD countries began
co-ordinating their policies on export credits. Two years
later, the
Arrangement on Guidelines for Officially Supported Export
Credits came into being; this Arrangement was accepted
directly by the Participants and developed in the framework of
the OECD. Today, this Arrangement still ensures the operation
of an orderly credit market and seeks to prevent countries from
competing to offer the most favourable financing terms for
exports.
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