GM Makes First Payment on Government Loans
12/18/09
GM Chairman and CEO Ed Whitacre announced that today, GM followed through on its commitment to begin loan repayments to the U.S. and Canadian and Ontario governments. GM paid $1 billion to the U.S. Treasury and $192 million to Export Development Canada.
“We are grateful for the support the governments have provided us. We look forward to continuing repayments through June 2010, at which time the balances will be paid in full, assuming no downturn in the economy or business,” Whitacre said.