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Partial credit guarantees for sub-national transactions (Английский)

A partial credit risk guarantee (PCG) provides comprehensive cover to sub-national governments' (SNGs) lenders in the event the SNG fails to make debt service payments on their debt, or when any default occurs, for any reason. A PCG provides direct or indirect debt service payment coverage for an SNG commercial bank loan or domestic bond issue. A PCG can also provide other improvements, or credit enhancements, to a debt obligation, such as extending...
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