Developing a common language around currency: OPIC’s Bohigian speaks at TCX conference
“I believe that development finance is a tool that can lead the way to a more peaceful and prosperous 21st Century,” OPIC Executive Vice President David Bohigian said this week in an address on the importance of mitigating foreign exchange risk.
Bohigian, who spoke at the annual conference of TCX, The Currency Exchange, in Amsterdam, said that the global economy is going through seismic shifts that will impact developed and developing nations alike.
“As transition occurs at a faster and faster pace, it’s critical that all of us work together and develop a common language for our work in development finance,” he told a group of development finance institutions. “We know we have shared values. Developing effective finance tools that we can share -- and scale -- will help us continue to offer effective solutions to major world problems.”
“We speak different languages and we work in different currencies, but those are small differences. We share common values that are far greater than our differences. It is imperative that we develop a common language around currency risk,” Bohigian said.
OPIC has long worked to innovate its core finance and insurance tools to better serve the needs of investors in emerging markets, and one key area of focus has been addressing the specific challenges associated with lending in foreign currencies to help ensure that lending is not too risky for the borrower or the lender.
“We’re inspired by the TCX platform that provides greater ability to help those who need it most,” Bohigian said.