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TeachMeFinance.com - explain GSM-5, Direct Export Credit Program GSM-5, Direct Export Credit Program The term 'GSM-5, Direct Export Credit Program ' as it applies to the area of agriculture can be defined as ' A federal export assistance program once operated by the Foreign Agricultural Service. Loans were made directly by the Commodity Credit Corporation at USDA-determined interest rates to foreign buyers of agricultural commodities. Through FY1980, government credit for agricultural exports was made available through the GSM-5 program. For budget austerity reasons, the program was replaced with federal export credit guarantees in FY1981. A more limited blended credit program was used in FY1983-85 that combined direct credit with guaranteed credits'. Previous 5 Terms: gruine grysbok GSM GSM-102, Intermediate-Term Export Credit Guarantee Program. GSM-103, Short-Term Export Credit Guarantee Program Next 5 Terms: GSP GSP GST GSTY GTR About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.