Warm-up. Before you start reading the unit think and try to answer the following questions:

Before you start reading the unit think and try to answer the following questions:

1. How can we define the international credit?

2. Can the credit influence the economic developments in a borrowing country?

3. How do we differentiate credits according to the allowed time of repayment? What can be considered

as security for a credit?

4. What is the difference between a commercial form of credit and a financial credit?

5. What do you know about the authority of central banks?

6. What are the peculiarities of such foreign trade operations as leasing, factoring, forfaiting?

Rapid Reading (skimming, scanning, reading for general understanding

Of the basic Text 12.4)

Work in pairs or small groups.

Quickly skim the text to find out how credits are classified, but do not spend much time reading

It in detail for this activity.

2. Quickly skim the text to define which credits are passed to the borrower's financial account.

3. Were any of your ideas about the classification of credits in the text the same?

4. Is maintenance of leased equipment prepaid?

Basic Text. Forms of International Credit

International credit — offering currency and marketable resources — is of primary concern in

The sphere of international economic relations. In general outline, the international credit is the