To date, we have $15 million outstanding of which the majority is on political risk claims,” said ATI CEO George Otieno. “A few countries are failing to meet their commitment to reimburse us for any political risk claims incurred as a result of the government failing to meet their obligation. Trade Insurance Agency (ATI), a 10-member export credit body, singled out the Government of Kenya as one of the countries that failed to reimburse about $15 million (Sh1.53 billion), most of which were political risk claims. Updated Wed, July 6th 2016 at 11:06 GMT +3The Government is on the spot for failing to reimburse cash received as insurance claims for political-related risks. The ATI said after its 16th Annual General Meeting in Kigali, Rwanda, that a few of its members had failed to reimburse some political risk claims, and emphasised the need for these countries to honour their commitment to the institution.

Source: Standard Digital July 06, 2016 08:15 UTC