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Abstract
Following the onset of the debt crisis in the early 1980s, there was a precipitous decline in official support for export credits to developing countries. In part, this was a result of a reduced demand for imports, as governments responded to balance of payments difficulties by cutting back public sector investment programs. But it was also, in part, a consequence of export credit agencies moving to restrict the availability of insurance cover as more and more countries experienced debt service difficulties.2 The demand for export credits was reduced further in the mid-1980s when the sharp fall in export revenues led to a similar compression of imports in oil exporting countries.
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