The Center anticipates that the Bush Administration will privately inform the allies that restored Soviet access to Export-Import Bank loans and credit guarantees, 3-year Commodity Credit Corporation grain loans and Overseas Private Investment Corporation insurance coverage represent a substantial U.S. assistance package to the USSR.
As for oil and gas, it too gets some uncommon tax breaks and benefits not given to other industries: Marketing efforts by the Overseas Private Investment Corp. and national insurance that protect against unexpected losses, like revolutions.
This cavalcade of debilitating financial developments must clearly render "dead-on-arrival" any further attempt by President Bush to certify that the former Soviet Union is creditworthy and thus eligible for additional U.S. taxpayer-underwritten credit guarantees or investmentinsurance (read, Overseas Private Investment Corporation coverage).