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Trade finance crisis has eased, gaps persist-OECD

Mon Jul 6, 2009 10:47am EDT

GENEVA, July 6 (Reuters) - Trade loans are now easier for exporters to access but many major transactions are still frozen because of financing trouble, the head of the Organisation for Economic Cooperation and Development (OECD) said on Monday.

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OECD Secretary-General Angel Gurria, in a Reuters interview, said trade finance had gone "from being closed at the beginning of the year to now being selectively more open."

"Not all of the financing has disappeared. Every day more is reinstated," he said.

Gurria said global trade flows would likely fall 10 percent this year, but recover somewhat in 2010 when they would rise 2 percent.

(Editing by Sophie Hares)

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