United States
Department of
Agriculture

Foreign
Agricultural
Service

ECG-12-98
December 1998

Monthly Summary of
Export Credit Guarantee
Program Activity

Commodity Credit Corporation's (CCC)
GSM-102/103 and Supplier Credit
Guarantee Programs

...Allocations Announced for Fiscal Year 1999
...Applications for Coverage Under Allocations Announced
...Allocation Balances by Country and Commodity


MONTHLY SUMMARY

This Summary Report shows Fiscal Year (October) commitment figures, as of the date indicated, for the Commodity Credit Corporation's (CCC) Export Credit Guarantee Program (GSM-102), the Intermediate Export Credit Guarantee Program (GSM-103) and the Supplier Credit Guarantee Program.

CAUTIONARY INFORMATION ON USE OF THIS REPORT

The enclosed tables reflect only exporter applications for guarantees which have been entered into the GSM-102/103 computerized System. At any given time, exporter applications are in process, and not all of those received (e.g., by facsimile) have been entered into the System. Moreover, all applications are initially entered into the System on a provisional basis until price review has been completed, the guarantee fee has been received, and the written guarantee has been issued. Thus, some applications now in the System may in the future be removed, and the commodity balances correspondingly increased. Users of this Report should be aware of these characteristics/limitations of the enclosed tables.

Additionally, users should be aware that the footnotes placed in the tables are intended only to highlight certain items which need to be interpreted with additional information. The footnotes are indicative only and not a substitute for the actual provisions of program announcements.


Summary of FY 99 Export Credit Guarantee Program Activity for GSM-102 as
of close of business:

                               December 4, 1998

                         Announced      Exporter           Remarks/Additional
Country / Commodity      Allocations    Applications           Information
(Maximum Credit Period 3/)FY 1999       Received     Balance      1/2/

                    --coverage in millions of dollars--

Andean Region           350.00            59.70       290.30    5/9/10/        
     Cotton (36)                          15.20
     Feed Grains (36)                     18.50
     Oilseeds (36)                         1.60
     Protein Meals (36)                    7.30
     Rice (36)                             5.20
     Vegetable Oils (36)                   1.80
     Wheat;Wheat Flour;
         Semolina (36)                    10.10
     Other Commodities (36)                0.00            

Argentina                 7.00             0.00         7.00    5/9/10/
     All Commodities (36)                  0.00

Azerbaijan
     All Commodities (36) 5.00             0.00         5.00    5/9/10/

Baltic Region            15.00             0.00        15.00    4/5/9/11/
     All Commodities (24)                  0.00    
           
Brazil                 105.00              17.90       87.10        10/
     Livestock, Breeder (36)                0.00                         
     Sub-Total...            5.00           0.00        4.80 
     
     Feed Grains (18)                       2.10
     Fruit, Fresh (18)                      1.20
     Rice (18)                             14.60
     Other Commodities (18)                 0.00
     Sub-Total...      100.00              17.90       82.10


Summary of FY 99 Export Credit Guarantee Program Activity for GSM-102 as of
close of business:
                               December 4, 1998 

                         Announced      Exporter           Remarks/Additional
Country / Commodity      Allocations    Applications           Information
(Maximum Credit Period 3/)FY 1999       Received     Balance      1/2/

                      --coverage in millions of dollars--

Central American Region 110.00            14.30       87.10     5/9/10/     
     Cotton  (36)                         10.95 
     Feed Grains (36)                      1.60
     Protein Meals (36)                    1.30
     Vegetable Oils (36)                   0.50
     Other Commodities (36)                0.00
             
Central Europe Region    10.00             0.00       10.00    4/5/9/11/
     All Commodities (24)                  0.00

China                  200.00              0.00      200.00      5/9/10/ 
     Oilseeds (36)                         0.00
     Other Commodities (36)                0.00
      
East Africa Region      35.00              0.00       35.00      5/10/
     All Commodities (36)                  0.00

East Caribbean Region   60.00              9.80       50.20     5/9/10/
     Feed Grains (36)                      1.10
     Protein Meals (36)                    0.50
     Rice (36)                             3.00
     Wheat (36)                            5.20
     Other Commodities (36)                0.00

Egypt                    100.00            0.00      94.60     5/7/10/
    Wheat (12)                             5.40
    Other Commodities (12)                 0.00
 

Summary of FY 99 Export Credit Guarantee Program Activity for GSM-102 as of
close of business:
                               December 4, 1998 

                         Announced      Exporter           Remarks/Additional
Country / Commodity      Allocations    Applications           Information
(Maximum Credit Period 3/)FY 1999       Received     Balance      1/2/

                      --coverage in millions of dollars--

Georgia, Republic of      5.00            0.00       5.00       5/9/10/
     All Commodities (36)

India                    20.00            0.00      20.00       5/9/10/  
     All Commodities (36)   

Indonesia                400.00          20.60      379.40        4/
     Barley Malt (36)                     0.00
     Brine Shrimp eggs (36)               0.00
     Corn Products (36)                   0.00
     Cotton (36)                          4.30
     Cotton Fabrics, 100% (36)            0.00                    12/
     Cotton Yarns, 100% (36)              0.00                    12/
     Dairy Products (36)                  0.00 
     Feed Grains (36)                     0.00
     Fruit, Dried (36)                    0.00
     Fruit, Fresh (36)                    0.00
     Fruit Juices, 100%(36)               0.00                   
     Hay (36)                             0.00 
     Hides and Skins (36)                 0.00
     Leather (incl. Wet Blues)(36)        0.00
     Meat, Frozen or Chilled (36)         0.00
     Oilseeds (36)                       16.30
     Planting Seeds (36)                  0.00
     Potatoes (36)                        0.00
     Poultry Breeder Stock (36)           0.00                   
     Protein Meals (36)                   0.00
     Pulses (36)                          0.00
     Rice (36)                            0.00
     Tree Nuts (36)                       0.00
     Wheat; Wheat Flour;
        Semolina (36)                     0.00
     Wood Products, Solid
        (720 Days)                        0.00
     Wool; Mohair (36)                    0.00

Jordan                 60.00              0.00       60.00      4/14/
     Wheat (36)                           0.00
     Sub-Total...      40.00              0.00       40.00  

     Feed Grains (12)                     0.00
     Fruit, Fresh (12)                    0.00
     Protein Meals (12)                   0.00
     Sub-Total...      20.00              0.00       20.00

Kazakstan              10.00              0.00       10.00       4/5/9/11/
     All Commodities (24)                 0.00

Malaysia              100.00             24.50      86.50        5/9/10/
     Oilseeds (36)                       23.50
     Wheat (36)                           1.00
     Other Commodities (36)               0.00


Summary of FY 99 Export Credit Guarantee Program Activity for GSM-102 as of
close of business:
                               December 4, 1998 

                         Announced      Exporter           Remarks/Additional
Country / Commodity      Allocations    Applications           Information
(Maximum Credit Period 3/)FY 1999       Received     Balance      1/2/

                      --coverage in millions of dollars-
Mexico                 750.00           268.00     482.00       5/8/9/10/   
     Corn Products  (24)                  0.20
     Cotton (24)                         97.50
     Feed Grains (24)                    51.00
     Meat, Frozen or Chilled (24)         1.10
     Oilseeds (24)                       61.60
     Protein Meals (24)                   7.90
     Rice (24)                            0.20
     Tallow; Grease; Lard (24)            9.30
     Vegetable Oils (24)                 19.70
     Wheat; Wheat Flour;
        Semolina (24)                    19.50
     Other Commodities (24)               0.00

Morocco                 10.00             0.00      10.00       5/9/10/
     All Commodities (36)                 0.00

Pakistan                60.00             0.00      60.00          11/
     Wheat (24)          
     Other Commodities (24)               0.00

Philippines            100.00            16.50      83.50       5/9/10/
     Wheat (36)                          16.50
     Other Commodities (36)               0.00

Poland                  25.00             0.00      25.00       5/9/10/   
     All Commodities (36)                 0.00

Romania                 45.00             0.00      45.00       4/5/9/
     All Commodities (36)                 0.00

Southeast Asia Region         90.00        0.00       84.20       4/
     Barley Malt  (36)                     0.00
     Brine Shrimp Eggs (36)                0.00
     Corn Products (36)                    0.00
     Cotton (36)                           0.00
     Cotton Fabrics (36)                   0.00                   12/
     Cotton Yarn (36)                      0.00                   12/
     Dairy Products (36)                   0.00
     Feed Grains (36)                      5.80
     Fish and Shellfish (Fresh,
      Chilled, Frozen, Canned,
      Salted/Dried (36)                    0.00
     Fruit Juices (36)                     0.00                    12/   
     Fruit, Canned (36)                    0.00                      
     Fruit, Dried (36)                     0.00
     Fruit, Fresh  (36)                    0.00
     Hay (36)                              0.00
     Hides and Skins  (36)                 0.00
     Ice Cream (36)                        0.00                    12/
     Leather  (36)                         0.00                    12/
     Livestock, Breeder (36)               0.00                       
     Meat, Frozen or Chilled (36)          0.00
     Oilseeds  (36)                        0.00
     Peanut Butter (36)                    0.00                    12/
     Peanut Flour (36)                     0.00
     Planting Seeds (36)                   0.00
     Potatoes (36)                         0.00
     Poultry Breeder Stock (36)            0.00                       
     Protein Meals (36)                    0.00
     Rice (36)                             0.00
     Straw (36)                            0.00
     Tree Nuts (36)                        0.00
     Vegetable Oils (36)                   0.00
     Vegetables, Canned (36)               0.00
     Vegetables, Fresh (36)                0.00
     Wheat; Wheat Flour;
         Semolina (36)                     0.00
     Wool Products, Solid (720 Days)       0.00
     Wool; Mohair (36)                     0.00

Summary of FY 99 Export Credit Guarantee Program Activity for GSM-102 as of
close of business:
                               December 4, 1998 

                         Announced      Exporter           Remarks/Additional
Country / Commodity      Allocations    Applications           Information
(Maximum Credit Period 3/)FY 1999       Received     Balance      1/2/

                      --coverage in millions of dollars-

Southeast Europe Region       25.00        0.00      25.00       4/9/11/
     All Commodities (36)                  0.00

Southern Africa Region        50.00        0.00      50.00       5/9/10/
     All Commodities (36)                  0.00 

Thailand                     300.00       22.90     277.10       5/9/10/
     Oilseeds (36)                        21.90
     Leather (36)                          1.00
     Other Commodities (36)                0.00

Tunisia                       20.00        2.00      18.00       4/5/9/
     Dairy Products (36)                   2.00
     Other Commodities (36)                0.00

Turkey                     350.00         33.90     316.10       5/9/10/
     Corn Products (36)                    0.40
     Cotton (36)                           2.10

     Hides and Skins (36)                  0.30
     Oilseeds (36)                         7.70
     Planting Seeds (36)                   0.10
     Protein Meals (36)                    5.40
     Pulses (36)                           0.30
     Rice (36)                             3.00
     Tallow (36)                           0.70
     Vegetable Oils (36)                  13.90
     Other Commodities (36)                0.00

Summary of FY 99 Export Credit Guarantee Program Activity for GSM-102 as of
close of business:
                               December 4, 1998 

                         Announced      Exporter           Remarks/Additional
Country / Commodity      Allocations    Applications           Information
(Maximum Credit Period 3/)FY 1999       Received     Balance      1/2/

                      --coverage in millions of dollars--

West Africa                52.00          0.00        52.00       4/ 
     Animal Genetics (36)                 0.00
     Cattle (36)                          0.00
     Livestock, Breeder (36)              0.00
     Sub-Total...           2.00          0.00         2.00

     Other Commodities (12)               0.00             
     Sub-Total...          50.00          0.00        50.00       5/

West Caribbean Region      35.00          0.00        35.00       5/10/11/
     Feed Grains (18)                     0.20          
     Protein Meals (18)                   0.20
     Other Commodities (18)               0.00
    
TOTAL FOR GSM-102       3,504.00        501.70     3,002.30

For Comparison Purposes: FY 1997 Payment Guarantee Commitments through 
December 5, 1998.  

TOTAL FOR GSM-102       2,411.00        564.10     1,846.90 



Summary of FY 99 Export Credit Guarantee Program Activity for GSM-103 as of
close of business:

                               December 4, 1998 

                         Announced      Exporter           Remarks/Additional
Country / Commodity      Allocations    Applications           Information
(Maximum Credit Period 3/)FY 1999       Received     Balance      1/2/

                      --coverage in millions of dollars--                      

Central American Region   10.00           0.00        10.00       4/ 
     Animal Genetics (7 years)            0.00
     Cattle (7 years)                     0.00
     Livestock, Breeder (7 years)         0.00                      

China                      2.00           0.00         2.00       4/
     Animal Genetics (years)              0.00
     Cattle (Feeder)(7 years)             0.00
     Livestock, Breeder (7 years)         0.00                      

Colombia                 110.00           4.80       105.20
     Feed Grains (7 years)                2.30
     Meat, Frozen or Chilled (7 years)    0.00
     Oilseeds (7 years)                   0.00
     Protein Meals (7 years)              0.00
     Rice (7 years)                       0.00
     Wheat; Wheat Flour
      Semolina (7 years)                  2.50 

Egypt                      5.00           0.00         5.00       4/
     Animal Genetics (7 years)            0.00
     Cattle (Feeder)(7 years)             0.00
     Livestock, Breeder (7 Years)         0.00                      

Indonesia                 10.00           0.00        10.00       4/
     Animal Genetics (7 years)            0.00
     Cattle (Feeder)(7 years)             0.00
     Livestock, Breeder (7 years)         0.00                    4/

Mexico                    50.00           0.80        49.20       13/
     Animal Genetics (7 years)            0.00
     Cattle (Feeder)(7 years)             0.00
     Livestock, Breeder (7 years)         0.70

Philippines                2.00           0.00         2.00        4/
    Animal Genetics (7 years)             0.00
    Cattle (Feeder)(7 years)              0.00
    Livestock, Breeder (7 Years)          0.00                    

Southern Africa Region    1.00            0.00         1.00        4/
     Animal Genetics (7 years)            0.00
     Cattle (Feeder)(7 years)             0.00

     Livestock, Breeder (7 Years)         0.00

Turkey                   40.00            0.00        40.00        4/
     Livestock, Breeder  (7 years)        0.00                      
     Poultry Breeder Stock (7 years)      0.00



TOTAL FOR GSM-103       230.00            5.60       224.40    

For Comparison Purposes: FY 1997 Payment Guarantee Commitments through 
December 5, 1998.  

TOTAL FOR GSM-103       260.00            4.90       255.10    



Summary of FY 99 Supplier Credit Guarantee Program (SCGP) Activity as of close
of business:

                               December 4, 1998 

                         Announced      Exporter            Remarks/Additional
Country / Commodity      Allocations    Applications          Information
(Maximum Credit Period 16/)FY 1999      Received      Balance   1/2/15/

                      --coverage in millions of dollars--

Argentina                1.00             0.00         1.00       4/  
    All Commodities (180)                 0.00

Baltic Region            5.00             0.00         5.00       4/
     All Commodities (180)                0.00

Brazil                  10.00             0.06         9.94       4/
     Fruit, Fresh (180)                   0.06
     Other Commodities (180)              0.00

Central American Region 10.00             0.00         0.00       4/  
     Meat, Frozen or Chilled (180)        1.50 
     Rice (180)                           0.900 
     Other Commodities (18)               0.00

Central Europe Region  20.00              0.00        20.00       4/
     All Commodities (180)                0.00

China                  20.00              0.00        20.00       4/
     All Commodities (180)                0.00

East Caribbean Region   5.00              0.00         5.00       4/
     All Commodities (180)                0.00

Georgia, Republic of    5.00              0.00         5.00       4/
     Meat, Frozen or Chilled 
       (Poultry)  (180)                   0.00
     Wheat; Wheat Flour; Semolina (180)   0.00

Israel                     20.00          0.00        20.00       4/
     All Commodities (180)                  
                   
Jamaica                     5.00          0.00         5.00       4/
     All Commdities (180)                 0.00 
               
Kazakstan                   5.00          0.00        5.00        4/
     All Commodities (180)                0.00            
                   
Korea                      50.00          0.18       49.82        4/ 
     Tree Nuts (180)                      0.08
     Wood Products (180)                  0.10
     Other Commodities (180)              0.00

Mexico                    120.00         15.09      104.91        4/
     Feed Grains (180)                    0.12
     Fruit, Fresh (180)                   0.01
     Meat, Frozen or Chilled (180)        0.59
     Meat Products, Processed (180)       0.09
     Oilseeds (180)                       0.27
     Pulses (180)                         0.01
     Rice (180)                           3.58  
     Other Commodities (180)              0.00    
    

Summary of FY 99 Supplier Credit Guarantee Program (SCGP) Activity as of close
of business:
                               December 4, 1998 

                         Announced      Exporter           Remarks/Additional
Country / Commodity      Allocations    Applications           Information
(Maximum Credit Period 16/)FY 1999      Received      Balance   1/2/15/

                      --coverage in millions of dollars--
Poland                    10.00             0.00        10.00      4/
     All Commodities (180)                  0.00         
  
Southeast Asia Region     50.00             0.16        49.84      4/
     Fruit, Fresh (180)                     0.08
     Meat, Frozen or Chilled (180)          0.08
     Other Commodities (180)                0.00

Southeast Europe Region   20.00             0.00        20.00      4/
    All Commodities (180)                   0.00

Turkey                     5.00             0.00         5.00      4/
    All Commodities (180)                   0.00 
   



TOTAL FOR SCGP           341.00           9.07       331.93     
                   
For Comparison Purposes: FY 1997 Payment Guarantee Commitments through   
December 5, 1998.  
                   
TOTAL FOR SCGP           253.00           0.05       252.95  
                   
FOR COMPARISON PURPOSES:
                   
FY 1999 PAYMENT GUARANTEE COMMITMENTS THROUGH 12/4/98:
                   
TOTAL FOR CCC CREDITS   4,075.00       516.37      3,558.63
                   
FY 1998 PAYMENT GUARANTEE COMMITMENTS THROUGH 12/5/97:
                   
TOTAL FOR CCC CREDITS   2,924.00       569.05     2,354.95 
                   

FOOTNOTES:

1/ These announcement footnotes are indicative only. See actual provisions set forth in Program Announcements. These FAS News releases are available on the internet at http://www.fas.usda.gov or through fax polling. Callers should set their fax machines for polling and and dial (202) 720-1728. For additional information, contact the FAS Information Division (202) 720-7115.
2/ Except as noted, the following terms apply:

--Coverage is available on an FAS/FOB basis
--Maximum coverage is 98% of port value
--Final registration date is 9/30/99
--Final export date is 11/30/99

3/ SHOWN IN MONTHS UNLESS OTHERWISE INDICATED.
4/ Coverage on a C&F basis is available on sales made on C&F or CIF basis.
5/ Commodities as reflected in program announcement PR-0580-98. Credit terms as set forth in country/regional program announcement.
6/ China (102) -Total authorization was $200.0 million, however, $100.0 million remains unallocated i.e. non-operational.
7/ Egypt(102)--Total authorization was $225.0 million, however, $125.0 million remains unallocated i.e.,non-operational.
8/ Mexico (102) Total authorization was $1.25 billion, however, $500.0 million remain unallocated i.e., non-operational.
9/ Credit terms for solid wood products, wood pulp and wood chips are offered up to 720 days.
10/ Breeder livestock coverage is available on C&F basis to point of ocean vessel or international carrier discharge.
11/ For credit periods exceeding 6 months, principal repayments plus accrued interest are due at 6 month intervals.
12/ Products have been determined to be "high value products". See program announcement for details.
13/ Mexico(103)--Total authorization was $100.0 million, however, $50.0 million remains unallocated i.e. non-operational.
14/ Jordan (102)--The eligible buyer for the $40.0 million allocation is Jordan's Ministry of Supply. The $10.0 million allocation offers coverage on sales to buyers in Jordan other than the Ministry of Supply.
15/ Maximum coverage up to 50 percent of the port value. No interest coverage is offered.
16/ SHOWN IN DAYS UNLESS OTHERWISE INDICATED.

COUNTRIES INCLUDED WITHIN REGIONS:

ANDEAN REGION:           Bolivia, Chile, Colombia, Ecuador, Peru and Venezuela

BALTIC:                  Estonia, Latvia and Lithuania
                   
CAUCASUS:                Azerbaijan, Georgia and Armenia
                   
CENTRAL AMERICA:         Belize, Costa Rica, El Salvador, Guatemala,     
                         Honduras, Nicaragua and Panama
                   
CENTRAL EUROPE:          Czech Republic, Hungary and Slovakia
                   
EAST AFRICA:             Kenya, Uganda and Tanzania         
                   
EAST CARIBBEAN:          Barbados, Grenada, Guyana, St. Lucia, St. 
                         Vincent & the Grenadines, Suriname and 
                         Trinidad & Tobago     

SOUTHEAST ASIA REGION:   Indonesia, Malaysia, Philippines, Thailand, 
                         Singapore and Vietnam

SOUTHEAST EUROPE:        Bosnia, Croatia and Slovenia

SOUTHERN AFRICA REGION:  Angola, Botswana, Burundi, Lestho, Madagasgar,
                         Malawi, Mauritius, Mozambique, Namibia, Rwanda, 
                         Seychelles, South Africa, Swaziland, 
                         Democratic Republic of Congo (formerly Zaire), 
                         Zambia and Zimbabwe
                   
SOUTHEAST EUROPE REGION: Bosnia, Croatia and Slovenia

WEST AFRICA REGION:      Benin, Burkina Faso, Cameroon, Cape Verde, 
                         Central African Republic, Congo, Cote d'Ivoire,       
                         Gabon, Gambia, Ghana, Guinea-Bissau, Guinea, Liberia, 
                         Mali, Mauritania, Nigeria, Senegal, Sierra Leone and  
                         Togo

WEST CARIBBEAN:          Haiti and Jamaica                         

BALTIC REGION (SCGP):           Estonia, Latvia and Lithuania
               
CENTRAL AMERICA REGION (SCGP):  Belize, Costa Rica, Guatemala, Honduras,       
                          Nicaragua and Panama                   

CENTRAL EUROPE REGION(SCGP):    Czech Republic, Hungary and Slovakia

EAST CARIBBEAN (SCGP):          Barbados, Grenada, Guyana, St. Lucia, 
                                St. Vincent & the Grenadines, Suriname, and    
                              Trinidad and Tobago

                   
SOUTHEAST ASIA REGION(SCGP):    Indonesia, Malaysia, Philippines, Singapore 
                                and Thailand
                   
SOUTHEAST EUROPE REGION(SCGP):  Croatia and Slovenia

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