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Distributed by the Export-Import Bank of the United States
on behalf of the
independent Office of Inspector General

December 16, 2008
Media contact: Office of Inspector General (202) 565-3908

INSPECTOR GENERAL OF EX-IM BANK RELEASES FISCAL YEAR 2008 FINANCIAL STATEMENT
AUDIT AND THIRD SEMIANNUAL REPORT TO CONGRESS

The Office of Inspector General, Export-Import Bank of the United States (Ex-Im Bank), has released the following two reports:

The Audit of the Ex-Im Bank Fiscal Year 2008 Financial Statements, which is available at: http://www.exim.gov/oig/documents/audit_fiscal_year2008financial_statements.pdf     Ex-Im Bank received an unqualified opinion. No material weaknesses were noted in the course of the audit.

The Third Semiannual Report to Congress of the Office of Inspector General, which is available at: http://www.exim.gov/oig/documents/semiannualreport_congress4-1-08to9-30-08.pdf.  This report highlights the actions taken by the Ex-Im Bank Office of Inspector General (OIG) during the period of April 1, 2008, through September 30, 2008, to execute the OIG mission of advancing the efficiency and effectiveness of Ex-Im Bank programs and fighting fraud, waste and abuse. 

The OIG's capabilities were substantially expanded during this reporting period by the hiring of senior staff in the areas of audit, investigations and counsel.  This has allowed the OIG to undertake active evaluations and investigations of open and new credit fraud cases affecting Ex-Im Bank, respond to hotline referrals and increase support for pending fraud prosecutions, with 15 discrete cases representing potential Ex-Im Bank fraud losses of more than $130 million under investigation at the end of the period.

Contact the Ex-Im Bank OIG at (202) 565-3908 or michael.tankersley@exim.gov if you have any questions or would like a hard copy of these reports.

The Ex-Im Bank OIG receives and investigates complaints and information concerning violations of law, rules or regulations, fraud against Ex-Im Bank, mismanagement, waste of funds and abuse of authority connected with the Bank's programs and operations. Reports can be delivered:

In person:
At the Office of Inspector General
811 Vermont Avenue, NW, Room 978
Washington, D.C. 20571

By telephone: 1-866-571-1801 (Hotline)

By mail:
Ex-Im Hotline
Office of Inspector General
811 Vermont Avenue, NW
Washington, D.C. 20571

By E-mail: IGhotline@exim.gov

Ex-Im Bank is the official export-credit agency of the United States. The independent, self-sustaining federal agency, now in its 74th year, helps create and maintain U.S. jobs by financing the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export-credit insurance and direct loans. In fiscal year 2008, Ex-Im Bank authorized $14.4 billion in financing to support an estimated $16 billion of U.S. exports worldwide. For more information, visit www.exim.gov.

To sign up to receive information directly from the Office of Inspector General visit http://www.exim.gov/oig/email.cfm