credits extended

The austerity measures, which began a year ago, cut Government spending and credits extended to industry and canceled thousands of construction projects.

Cover for credits extended over more than two years, however, stayed with the ECGD, and manufacturers involved in project business claim their insurance costs have sometimes doubled.

Foreign direct investment, which includes contributions to starting capital and credits extended by foreign co-owners of enterprises, rose slightly in 1999 and 2000, but decreased in 2001 by about 10%.

Mr. Fitzwater said in his White House briefing today that the Soviet Union has already tapped $800 million of the $1 billion in emergency food credits extended to them by the United States last month.