Gov''t To Hand Out More Loan Guarantees...


Aug 20, 2002
Looks like the US Goernment is ready to hand out Loan Guarantees again. Only this time it is not to the airlines.
Here is a quote from the USA Today article:
“Turkey’s National Security Council is expected to recommend today that this country permit U.S. troops to use its territory in any war against Iraq.â€￾ “Turkey is asking for up to $15 billion in loan guarantees…â€￾ “Loan guarantees would not mean the United States would give Turkey any money. Rather, they would help Turkey get low interest rates on funds it borrows from international lenders. That’s because the United States would agree to repay the loans if Turkey defaulted. So lenders could be confident of getting repaid, with interest.â€￾
Looks like Dubya loves the promise of loan guarantees to get what he wants. Too bad other countries have a better chance of getting the guarantee than people in his own country! Wasn't $15 billion the amount he set aside originally for the ATSB?
Do you think that Turkey might have to submit an application to the ATSB?