Saving Trade: COVID-19 and Force Majeure
In the article, Geoff explains the impact of COVID-19 on trade finance and supply chains. While it is difficult to gauge the full extent of the impact of COVID-19 on trade and commodity finance, it is clear that the pandemic is both severe and widespread, particularly in Organisation for Economic Co-operation and Development (OECD) countries.
Despite the uncertainty, Geoff remains hopeful, stating that trade and commodity finance has always been able to adapt to changed circumstances, and the coronavirus presents an opportunity to reconfirm that ability. He suggests taking a detailed look at how best to enter into, maintain and carry out transactions rather than stopping them altogether.