United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office General Government Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1995-02-24 monographic deposited born digital 176 p. GA 1.13:GGD-95-60 https://www.govinfo.gov/app/details/GAOREPORTS-GGD-95-60 P0b002ee1803a44ad f:gg95060 DGPO 2010-08-12 2011-03-24 GAOREPORTS-GGD-95-60 machine generated eng fdlp REPORT GAOREPORTS-GGD-95-60 GGD-95-60 Federal aid to foreign countries Exporting Agricultural products International economic relations International trade Government guaranteed loans Economic analysis Loan defaults Foreign economic development credit Agricultural programs USDA GSM-102 Program USDA GSM-103 Program CCC Export Credit Guarantee Program CCC Intermediate Export Credit Guarantee Program Soviet Union Russia Armenia Azerbaijan Belarus Estonia Georgia (Formerly Soviet Union) Kazakhstan Kyrgyzstan Latvia Lithuania Moldova Tajikistan Turkmenistan Ukraine Uzbekistan Iraq USDA Export Enhancement Program USDA Food for Progress Program Chapter Report GGD B92003 Burdened with debt and plagued by economic and political uncertainties, the successor states of the former Soviet Union are not creditworthy and are at high risk for default on billions of dollars in U.S. agricultural export credit guarantees. Arrears on the debt of the former Soviet Union have continued to mount since 1989--notwithstanding debt deferral, debt rescheduling, and other foreign assistance provided by creditor nations. Although Western nations have indicated a willingness to provide more debt relief and other assistance, much of this aid depends on Russia's implementing difficult macroeconomic and structural reforms. Whether, and when, Russia can or will implement such reforms is questionable. During the period when the Agriculture Department (USDA) provided more than $5 billion in export credit guarantees to the former Soviet Union, Russia, and Ukraine, USDA's own evaluations found that these states were very risky in terms of their ability to repay such debt. As a result of the large amount of credit guarantees made to the former Soviet Union and its successors and their poor creditworthiness, the export credit guarantee program is heavily exposed to default. https://www.govinfo.gov/content/pkg/GAOREPORTS-GGD-95-60/html/GAOREPORTS-GGD-95-60.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GGD-95-60/pdf/GAOREPORTS-GGD-95-60.pdf GAO/GGD-95-60 https://www.govinfo.gov/app/details/GAOREPORTS-GGD-95-60 Chapter Report GAO/GGD-95-60; Former Soviet Union: Creditworthiness of Successor States and U.S. Export Credit Guarantees; Federal aid to foreign countries Exporting Agricultural products International economic relations International trade Government guaranteed loans Economic analysis Loan defaults Foreign economic development credit Agricultural programs USDA GSM-102 Program USDA GSM-103 Program CCC Export Credit Guarantee Program CCC Intermediate Export Credit Guarantee Program Soviet Union Russia Armenia Azerbaijan Belarus Estonia Georgia (Formerly Soviet Union) Kazakhstan Kyrgyzstan Latvia Lithuania Moldova Tajikistan Turkmenistan Ukraine Uzbekistan Iraq USDA Export Enhancement Program USDA Food for Progress Program Public Law 81-439 Public Law 93-618 Public Law 99-198 Public Law 101-508 Public Law 101-624