International Trade
Commodity Credit Corporation's Export Credit Guarantee Programs Gao ID: NSIAD-88-194 June 10, 1988In response to a congressional request, GAO reviewed the Foreign Agricultural Service's (FAS) management of the Commodity Credit Corporation's (CCC) export credit guarantee programs, focusing on the programs' efficiency and effectiveness.
GAO found that CCC: (1) failed to adequately enforce program regulations requiring exporters to include payment schedules with their export reports; (2) submitted inaccurate reports to Congress and rescheduled foreign debt guarantees without knowledge of the actual amounts outstanding; (3) lacked sufficient controls to ensure the purchase of U.S. agricultural commodities through its export guarantee programs; and (4) did not establish a procedure to verify that agricultural products arrived at the specified countries.
RecommendationsOur recommendations from this work are listed below with a Contact for more information. Status will change from "In process" to "Open," "Closed - implemented," or "Closed - not implemented" based on our follow up work.
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