GE's Immelt says Ex-Im bank closure would hurt US-Africa trade: FT

(Reuters) - Trade ties between the United States and Africa will be hit if the U.S. Congress decides to close the Export-Import bank, the Financial Times reported General Electric Co Chief Executive Jeff Immelt as saying. The Ex-Im Bank provides loans, loan guarantees and credit insurance to help private companies export goods overseas. Ex-Im will be forced to close if Congress does not renew its charter by Sept. 30. Immelt said the bank was crucial for U.S. companies operating in Africa because it showed the government was prepared to have "some skin in the game", the FT reported.

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