On November 7, 2017, Akira Kondoh, Governor of the Japan Bank for International Cooperation (JBIC), gave a keynote speech at the Coface Country Risk Conference 2017 hosted by COFACE JAPAN, which is part of the global credit insurer the Coface Group.
Based on his own experiences in private-sector financial institutions, Kondoh explained to audiences how country risk should be managed, by referring to cases in the past where the world economy was influenced by significant changes in the international financial markets such as the Nixon Shock and the Volcker Shock. He also mentioned that he was appointed as Governor of JBIC on the same day as the UK referendum on the country's withdrawal from the EU, often known as Brexit. He finished his speech by stating that JBIC would conduct its business by taking appropriate risks while analyzing and controlling various risks in the international financial markets.
At the conference, Etsuaki Yoshida, Director of Division 3 of the Country Credit Department at JBIC, also made a presentation on the current state of risks in the Middle Eastern countries. He explained that although oil prices have been somewhat stable in recent months, some countries in the Middle East are still vulnerable to oil price weakness due to their delay in implementing financial and economic reforms. He also pointed out that the economies and finances of those countries are impacted by political and regional diplomatic situations.
JBIC will continue to accumulate knowledge of overseas economies and international finance and provide the private sector, including companies and financial institutions, with useful information for their business expansion overseas.