ICEX

ICEX is a Spanish organization involved in supporting exporting firms. Recent news highlights its role in a new package of urgent measures implemented by the Spanish government to mitigate the economic effects of international instability, specifically following the attack by Iran. This package includes a mechanism for compensation to exporting firms through ICEX. This is particularly relevant as the government extends a 'contable shield' (accounting shield) for companies experiencing losses, originally implemented during the COVID-19 pandemic. The ICEX compensation mechanism aims to support these firms in navigating the current economic climate and maintaining their export activities. Its current relevance stems from the ongoing global economic uncertainty and the Spanish government's efforts to protect its domestic businesses involved in international trade.