Currently reading: GM begins loan repayments
$1 billion to US government; $192m to the Canadian Government

GM has begun repaying its bailout loans to the US and Canadian governments.

It paid the US government $1 billion and the Canadian government $192 million.

GM must repay the US government $6.7 billion by June 2010 - a target it said in a brief statement that it would achieve.

The US government currently owns 60 per cent of GM, but is looking to offload its shares in an upcoming stock offering, which analysts predict could be as early as the middle of next year.

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crashbangwallop 21 December 2009

Re: GM begins loan repayments

GM paying it's debt with the money it has borrowed. Now there is a long term business plan

Chunkster 21 December 2009

Re: GM begins loan repayments

Glad to see where the cash-for-clunkers money is going to.